HC Wainwright reissued their buy rating on shares of Arvinas (NASDAQ:ARVN - Free Report) in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a $81.00 target price on the stock.
ARVN has been the subject of a number of other reports. Barclays cut their price target on Arvinas from $48.00 to $32.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Oppenheimer cut shares of Arvinas from an "outperform" rating to a "market perform" rating in a report on Tuesday. Guggenheim reiterated a "buy" rating and issued a $57.00 price target on shares of Arvinas in a research report on Wednesday, February 12th. BMO Capital Markets reissued an "outperform" rating and set a $82.00 price objective (down previously from $88.00) on shares of Arvinas in a research report on Wednesday, February 12th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arvinas in a report on Friday, February 7th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $37.47.
View Our Latest Report on ARVN
Arvinas Stock Up 1.0 %
ARVN traded up $0.09 during midday trading on Tuesday, hitting $8.64. 844,223 shares of the company traded hands, compared to its average volume of 1,668,075. The company's 50-day moving average is $17.56 and its 200 day moving average is $22.02. The firm has a market capitalization of $594.12 million, a PE ratio of -3.12 and a beta of 1.95. Arvinas has a 52 week low of $7.91 and a 52 week high of $45.77.
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Arvinas (NASDAQ:ARVN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating analysts' consensus estimates of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same quarter in the prior year, the business earned ($2.53) EPS. On average, sell-side analysts predict that Arvinas will post -3.81 earnings per share for the current fiscal year.
Insider Transactions at Arvinas
In related news, insider Ian Taylor sold 9,020 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.71, for a total value of $150,724.20. Following the sale, the insider now directly owns 159,121 shares in the company, valued at approximately $2,658,911.91. The trade was a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John G. Houston sold 31,338 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.72, for a total value of $523,971.36. Following the transaction, the chief executive officer now owns 1,157,480 shares of the company's stock, valued at $19,353,065.60. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,572 shares of company stock valued at $695,030. 5.23% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of Arvinas by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company's stock valued at $57,371,000 after purchasing an additional 367,343 shares during the last quarter. Baker BROS. Advisors LP bought a new stake in Arvinas in the third quarter worth $9,989,000. SG Americas Securities LLC boosted its stake in Arvinas by 228.8% during the fourth quarter. SG Americas Securities LLC now owns 32,424 shares of the company's stock worth $622,000 after buying an additional 22,564 shares during the period. Wasatch Advisors LP boosted its stake in Arvinas by 58.3% during the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company's stock worth $10,737,000 after buying an additional 160,510 shares during the period. Finally, Barclays PLC increased its position in Arvinas by 198.9% during the third quarter. Barclays PLC now owns 121,699 shares of the company's stock valued at $2,998,000 after acquiring an additional 80,984 shares during the last quarter. Hedge funds and other institutional investors own 95.19% of the company's stock.
Arvinas Company Profile
(Get Free Report)
Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body's own natural protein disposal system to degrade and remove disease-causing proteins.
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