Arvinas (NASDAQ:ARVN) Price Target Raised to $16.00
by Sarita Garza · The Markets DailyArvinas (NASDAQ:ARVN – Free Report) had its price objective raised by BTIG Research from $14.00 to $16.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the stock.
A number of other research analysts also recently commented on ARVN. Barclays boosted their price objective on shares of Arvinas from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. Piper Sandler reiterated an “overweight” rating and issued a $20.00 target price (up from $16.00) on shares of Arvinas in a research report on Wednesday, February 25th. Truist Financial set a $10.00 target price on shares of Arvinas in a research note on Wednesday. Citigroup boosted their price target on shares of Arvinas from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, Wall Street Zen downgraded shares of Arvinas from a “hold” rating to a “sell” rating in a research note on Monday, March 2nd. Ten investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.88.
Check Out Our Latest Stock Analysis on Arvinas
Arvinas Trading Down 2.1%
NASDAQ:ARVN opened at $10.94 on Thursday. The business’s fifty day moving average price is $12.70 and its 200 day moving average price is $11.17. The firm has a market capitalization of $699.72 million, a price-to-earnings ratio of -8.55 and a beta of 1.87. Arvinas has a 1-year low of $5.90 and a 1-year high of $14.51.
Arvinas (NASDAQ:ARVN – Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.55). The business had revenue of $9.50 million for the quarter, compared to analyst estimates of $37.26 million. Arvinas had a negative return on equity of 14.25% and a negative net margin of 30.77%.The company’s revenue was down 84.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.63) earnings per share. Equities analysts forecast that Arvinas will post -3.81 earnings per share for the current year.
Insider Activity
In other Arvinas news, insider Noah Berkowitz sold 6,435 shares of Arvinas stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $11.10, for a total value of $71,428.50. Following the completion of the sale, the insider directly owned 202,503 shares in the company, valued at $2,247,783.30. The trade was a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Briggs Morrison purchased 20,000 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were acquired at an average price of $13.40 per share, for a total transaction of $268,000.00. Following the purchase, the director owned 96,021 shares in the company, valued at $1,286,681.40. The trade was a 26.31% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 63,864 shares of company stock valued at $802,443. 4.73% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Arvinas
Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its position in shares of Arvinas by 491.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock worth $43,000 after buying an additional 4,835 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Arvinas by 109.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after acquiring an additional 3,500 shares in the last quarter. State of Wyoming acquired a new position in shares of Arvinas during the 3rd quarter valued at about $68,000. Virtus Investment Advisers LLC raised its stake in shares of Arvinas by 49.3% in the 2nd quarter. Virtus Investment Advisers LLC now owns 12,422 shares of the company’s stock valued at $91,000 after acquiring an additional 4,104 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Arvinas in the 3rd quarter valued at approximately $92,000. 95.19% of the stock is owned by institutional investors and hedge funds.
Arvinas Company Profile
Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.
The company’s most advanced clinical candidates address hormone-driven cancers.