Arvinas, Inc. (NASDAQ:ARVN) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Arvinas, Inc. has received a consensus recommendation of "Moderate Buy" from 22 analysts, with an average price target of $16.18.
• The company reported a loss of ($0.84) earnings per share in its latest quarterly earnings, exceeding analyst expectations of ($0.87), but revenue fell short at $22.40 million.
• Arvinas' Board of Directors initiated a $100 million stock buyback program, indicating confidence in the stock's undervaluation.

Shares of Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-two analysts that are presently covering the stock, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $16.1842.

Several research analysts have weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Arvinas from $19.00 to $16.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Leerink Partners reaffirmed a "market perform" rating and issued a $9.00 price objective (down previously from $10.00) on shares of Arvinas in a report on Monday, June 2nd. Wedbush reissued a "neutral" rating and set a $9.00 target price (down from $10.00) on shares of Arvinas in a report on Thursday, September 18th. Barclays assumed coverage on shares of Arvinas in a report on Wednesday, September 17th. They issued an "overweight" rating and a $16.00 price target for the company. Finally, Stephens cut their price target on Arvinas from $16.00 to $14.00 and set an "overweight" rating on the stock in a report on Thursday, September 18th.

Arvinas Price Performance

NASDAQ:ARVN opened at $8.27 on Friday. Arvinas has a 1-year low of $5.90 and a 1-year high of $29.61. The firm has a 50-day moving average of $7.50 and a two-hundred day moving average of $7.53. The stock has a market cap of $607.18 million, a P/E ratio of -8.19 and a beta of 2.38.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.84) earnings per share for the quarter, beating analysts' consensus estimates of ($0.87) by $0.03. Arvinas had a negative return on equity of 12.01% and a negative net margin of 19.47%.The firm had revenue of $22.40 million during the quarter, compared to analyst estimates of $34.42 million. During the same quarter last year, the firm earned ($0.49) EPS. Arvinas's quarterly revenue was down 70.7% on a year-over-year basis. As a group, equities analysts expect that Arvinas will post -3.81 earnings per share for the current year.

Arvinas declared that its Board of Directors has initiated a stock buyback program on Wednesday, September 17th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 17.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other Arvinas news, Director Briggs Morrison purchased 30,000 shares of Arvinas stock in a transaction on Monday, September 22nd. The stock was bought at an average price of $7.57 per share, for a total transaction of $227,100.00. Following the transaction, the director owned 76,021 shares of the company's stock, 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.

Hedge Funds Weigh In On Arvinas

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Alyeska Investment Group L.P. bought a new position in shares of Arvinas in the first quarter valued at approximately $12,636,000. Vanguard Group Inc. increased its position in shares of Arvinas by 18.4% during the 1st quarter. Vanguard Group Inc. now owns 8,362,200 shares of the company's stock valued at $58,703,000 after purchasing an additional 1,299,639 shares during the period. Acadian Asset Management LLC raised its stake in shares of Arvinas by 791.1% in the 2nd quarter. Acadian Asset Management LLC now owns 1,427,832 shares of the company's stock worth $10,498,000 after buying an additional 1,267,593 shares in the last quarter. Philosophy Capital Management LLC acquired a new stake in shares of Arvinas in the first quarter valued at $6,992,000. Finally, Federated Hermes Inc. boosted its stake in Arvinas by 1,965.0% during the first quarter. Federated Hermes Inc. now owns 980,674 shares of the company's stock valued at $6,884,000 after buying an additional 933,183 shares in the last quarter. Institutional investors own 95.19% of the company's stock.

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.

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