Brokerages Set Arvinas, Inc. (NASDAQ:ARVN) Target Price at $56.08

Arvinas, Inc. (NASDAQ:ARVN) has been given a consensus rating of “Moderate Buy” by the sixteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $37.47.

Several brokerages recently weighed in on ARVN. Wells Fargo & Company set a $26.00 target price on Arvinas and gave the stock an “overweight” rating in a research report on Wednesday, March 12th. The Goldman Sachs Group lowered Arvinas from a “buy” rating to a “neutral” rating and cut their price objective for the company from $70.00 to $15.00 in a research report on Thursday, March 13th. BMO Capital Markets set a $20.00 target price on Arvinas and gave the company an “outperform” rating in a research note on Wednesday, March 12th. BTIG Research assumed coverage on Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 target price for the company. Finally, Guggenheim decreased their price target on Arvinas from $57.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, March 13th.

Insider Activity

In related news, insider Ian Taylor sold 9,020 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.71, for a total transaction of $150,724.20. Following the sale, the insider now owns 159,121 shares of the company’s stock, valued at $2,658,911.91. The trade was a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John G. Houston sold 31,338 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the sale, the chief executive officer now directly owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,572 shares of company stock valued at $695,030. Insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ARVN. T. Rowe Price Investment Management Inc. acquired a new position in Arvinas in the fourth quarter worth approximately $42,332,000. Norges Bank purchased a new position in Arvinas during the 4th quarter worth approximately $23,845,000. Boxer Capital Management LLC purchased a new position in Arvinas during the 4th quarter worth approximately $20,294,000. Braidwell LP grew its position in Arvinas by 148.3% during the 3rd quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock worth $31,637,000 after purchasing an additional 767,242 shares in the last quarter. Finally, RTW Investments LP grew its position in Arvinas by 19.8% during the 4th quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock worth $63,919,000 after purchasing an additional 551,979 shares in the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Stock Down 3.2 %

Shares of Arvinas stock opened at $8.42 on Wednesday. Arvinas has a fifty-two week low of $7.91 and a fifty-two week high of $44.85. The firm has a market cap of $579.06 million, a PE ratio of -3.04 and a beta of 1.95. The business’s fifty day moving average is $16.87 and its two-hundred day moving average is $21.59.

Arvinas (NASDAQ:ARVN) last released its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the firm earned ($2.53) EPS. Equities research analysts anticipate that Arvinas will post -3.81 EPS for the current year.

About Arvinas

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.