HC Wainwright Begins Coverage on Arvinas (NASDAQ:ARVN)

Key Points

• HC Wainwright initiated coverage on Arvinas with a Buy rating and a $13 price target, implying 83.36% upside from the previous close.
• Analyst sentiment is broadly positive: MarketBeat reports an average rating of Moderate Buy and an average price target of $15.18.
• Arvinas reported a quarterly loss of $0.82 per share, better than estimates, but revenue was just $0.50 million versus $12.39 million expected and fell 98.8% year over year.

Stock analysts at HC Wainwright assumed coverage on shares of Arvinas (NASDAQ:ARVN - Get Free Report) in a report issued on Tuesday, MarketBeat reports. The brokerage set a "buy" rating and a $13.00 price target on the stock. HC Wainwright's price target would suggest a potential upside of 83.36% from the company's previous close.

A number of other equities research analysts also recently issued reports on ARVN. Morgan Stanley set a $10.00 price objective on Arvinas in a research report on Monday, August 10th. Wells Fargo & Company downgraded Arvinas from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $15.00 to $11.00 in a research report on Tuesday, August 4th. BTIG Research reissued a "buy" rating and issued a $18.00 target price on shares of Arvinas in a research note on Tuesday, August 4th. Evercore set a $14.00 target price on Arvinas in a research note on Monday, August 10th. Finally, Zacks Research raised Arvinas from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $15.18.

Arvinas Stock Performance

Shares of ARVN stock opened at $7.09 on Tuesday. Arvinas has a 52-week low of $6.74 and a 52-week high of $14.51. The company has a market capitalization of $457.45 million, a PE ratio of 70.91 and a beta of 1.81. The business's fifty day moving average is $8.02 and its 200 day moving average is $9.65.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.82) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.92) by $0.10. Arvinas had a return on equity of 1.91% and a net margin of 2.94%. The company had revenue of $0.50 million for the quarter, compared to the consensus estimate of $12.39 million. During the same quarter last year, the business posted ($0.48) earnings per share. The firm's revenue was down 98.8% compared to the same quarter last year. On average, sell-side analysts forecast that Arvinas will post 0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. AlphaCentric Advisors LLC grew its stake in shares of Arvinas by 4.9% during the third quarter. AlphaCentric Advisors LLC now owns 32,121 shares of the company's stock valued at $248,000 after buying an additional 1,499 shares during the last quarter. Corient Private Wealth LP grew its stake in shares of Arvinas by 15.9% during the second quarter. Corient Private Wealth LP now owns 11,945 shares of the company's stock valued at $99,000 after buying an additional 1,637 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Arvinas by 16.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,930 shares of the company's stock valued at $89,000 after buying an additional 1,661 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Arvinas during the third quarter valued at about $26,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Arvinas by 11.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 51,923 shares of the company's stock valued at $550,000 after buying an additional 5,349 shares during the last quarter. Institutional investors own 95.19% of the company's stock.

About Arvinas

Arvinas, Inc is a clinical-stage biopharmaceutical company focused on developing medicines based on targeted protein degradation. The company's proprietary PROTAC® protein degrader platform is designed to direct the body's natural cellular machinery to selectively break down disease-causing proteins that may be difficult to address with conventional drug approaches.

Arvinas has concentrated its research and development efforts primarily on oncology, including hormone-driven cancers. Its pipeline has included vepdegestrant, an estrogen receptor protein degrader being developed for patients with estrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer, as well as other investigational degraders targeting cancer-related proteins.