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

Key Points

• Analyst consensus is “Hold” among 11 brokerages: five rate Arvinas a buy, three hold, two sell, and one strong buy. The average 12-month price target is $14.17, with targets ranging from $10 to $18.
• Arvinas reported quarterly EPS of $2.58, far exceeding the $0.37 loss analysts expected, while revenue reached $249.7 million—up 1,014.7% year over year and well above the $60.71 million consensus estimate.
• ARVN opened at $9.26, compared with a 52-week range of $6.95 to $14.51. Institutional investors own 95.19% of the stock, while the CFO sold shares under a pre-arranged plan to cover tax obligations.

Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) has received an average recommendation of "Hold" from the eleven brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $14.1667.

Several research firms have recently weighed in on ARVN. Evercore set a $14.00 target price on Arvinas in a research report on Monday, August 10th. Wells Fargo & Company restated an "equal weight" rating and issued a $11.00 price target (down from $15.00) on shares of Arvinas in a report on Tuesday, August 4th. Morgan Stanley set a $10.00 price target on shares of Arvinas in a research note on Monday, August 10th. BTIG Research reiterated a "buy" rating and set a $18.00 price objective on shares of Arvinas in a report on Tuesday, August 4th. Finally, Wedbush boosted their price objective on shares of Arvinas from $11.00 to $12.00 and gave the company a "neutral" rating in a research report on Wednesday, August 5th.

Insider Buying and Selling at Arvinas

In other news, CFO Andrew Saik sold 5,696 shares of Arvinas stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $8.16, for a total transaction of $46,479.36. Following the completion of the sale, the chief financial officer owned 187,432 shares of the company's stock, valued at approximately $1,529,445.12. The trade was a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 7.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in shares of Arvinas by 491.4% in 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 during the period. Canada Pension Plan Investment Board increased its stake in shares of 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 buying an additional 3,500 shares during the period. Quantbot Technologies LP purchased a new position in shares of Arvinas during the second quarter valued at $85,000. Corient Private Wealth LP bought a new stake in shares of Arvinas in the second quarter valued at about $95,000. Finally, Jain Global LLC bought a new stake in shares of Arvinas in the third quarter valued at about $95,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Arvinas Stock Performance

Shares of NASDAQ ARVN opened at $9.26 on Wednesday. The business's 50 day moving average price is $8.24 and its 200-day moving average price is $10.04. Arvinas has a fifty-two week low of $6.95 and a fifty-two week high of $14.51. The company has a market cap of $597.46 million, a price-to-earnings ratio of 92.61 and a beta of 1.71.

Arvinas (NASDAQ:ARVN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.37) by $2.95. The company had revenue of $249.70 million during the quarter, compared to analysts' expectations of $60.71 million. Arvinas had a return on equity of 1.91% and a net margin of 2.94%.Arvinas's revenue was up 1014.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.84) EPS. Sell-side analysts predict that Arvinas will post -0.27 earnings per share for the current year.

About Arvinas

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.

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