Arvinas, Inc. (NASDAQ:ARVN) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Arvinas, Inc. has received an average recommendation of "Hold" from analysts, with two sell ratings, ten hold ratings, ten buy ratings, and one strong buy rating assigned by twenty-three analysts.
• The company's stock price has been notably volatile, currently trading at $9.31, while experiencing a 12-month high of $29.61 and a low of $5.90.
• Arvinas has authorized a share buyback program allowing the company to repurchase $100 million worth of shares, indicating confidence from the Board of Directors in the company's valuation.

Shares of Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) have been assigned an average recommendation of "Hold" from the twenty-three analysts that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $16.1842.

Several research analysts have recently issued reports on the stock. BTIG Research cut their target price on shares of Arvinas from $16.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday, September 18th. The Goldman Sachs Group reiterated a "sell" rating and issued a $6.00 price target (down previously from $8.00) on shares of Arvinas in a report on Wednesday, October 15th. Piper Sandler reiterated an "overweight" rating and issued a $16.00 price target on shares of Arvinas in a report on Tuesday, October 7th. Stephens cut their price target on shares of Arvinas from $16.00 to $14.00 and set an "overweight" rating on the stock in a report on Thursday, September 18th. Finally, Bank of America cut shares of Arvinas from a "buy" rating to a "neutral" rating and set a $10.00 price target on the stock. in a report on Wednesday, September 24th.

Arvinas Stock Down 3.6%

Arvinas stock opened at $9.31 on Thursday. The firm's fifty day moving average is $8.27 and its 200 day moving average is $7.71. Arvinas has a 12-month low of $5.90 and a 12-month high of $29.61. The company has a market capitalization of $683.54 million, a PE ratio of -9.22 and a beta of 2.39.

Arvinas (NASDAQ:ARVN - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.87) by $0.03. The firm had revenue of $22.40 million during the quarter, compared to analyst estimates of $34.42 million. Arvinas had a negative net margin of 19.47% and a negative return on equity of 12.01%. The business's revenue was down 70.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.49) EPS. Sell-side analysts expect that Arvinas will post -3.81 EPS for the current fiscal year.

Arvinas declared that its Board of Directors has authorized a share buyback program on Wednesday, September 17th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 17.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Insider Activity

In related news, Director Briggs Morrison acquired 30,000 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was bought at an average cost of $7.57 per share, for a total transaction of $227,100.00. Following the purchase, the director owned 76,021 shares in the company, valued at $575,478.97. The trade was a 65.19% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Arvinas

A number of hedge funds and other institutional investors have recently bought and sold shares of ARVN. Caitong International Asset Management Co. Ltd grew its position in shares of Arvinas by 965.4% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company's stock worth $33,000 after buying an additional 4,219 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Arvinas by 491.4% during the 2nd 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 in the last quarter. Canada Pension Plan Investment Board boosted its position in Arvinas by 109.4% during the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company's stock valued at $49,000 after purchasing an additional 3,500 shares in the last quarter. CWM LLC boosted its position in Arvinas by 2,317.5% during the first quarter. CWM LLC now owns 7,615 shares of the company's stock valued at $53,000 after purchasing an additional 7,300 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Arvinas during the second quarter valued at about $74,000. Hedge funds and other institutional investors own 95.19% of the company's stock.

Arvinas Company Profile

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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