Arvinas (NASDAQ:ARVN) Price Target Lowered to $14.00 at Stephens

Key Points

• Equities research analysts at Stephens have reduced Arvinas' price target from $16.00 to $14.00, while maintaining an "overweight" rating, indicating a potential 83.97% upside from the current stock price.
• Arvinas' quarterly revenue was down 70.7% compared to the same quarter last year and reported earnings of ($0.84) per share, slightly better than the consensus estimate of ($0.87).
• Several analysts have varied ratings on Arvinas, with one rating it as a "Strong Buy," eleven as "Buy," and ten as "Hold", reflecting a consensus rating of "Moderate Buy".

Arvinas (NASDAQ:ARVN - Get Free Report) had its price target lowered by equities research analysts at Stephens from $16.00 to $14.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm presently has an "overweight" rating on the stock. Stephens' price target indicates a potential upside of 84.82% from the stock's current price.

A number of other brokerages also recently commented on ARVN. Barclays initiated coverage on Arvinas in a research report on Wednesday, September 17th. They set an "overweight" rating and a $16.00 price objective for the company. Leerink Partners reiterated a "market perform" rating and issued a $9.00 price target (down from $10.00) on shares of Arvinas in a research note on Monday, June 2nd. Leerink Partnrs lowered shares of Arvinas from a "strong-buy" rating to a "hold" rating in a research note on Sunday, June 1st. Wells Fargo & Company dropped their price target on shares of Arvinas from $19.00 to $16.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, Guggenheim decreased their price objective on shares of Arvinas from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, Arvinas presently has an average rating of "Moderate Buy" and a consensus target price of $17.13.

Arvinas Price Performance

Shares of NASDAQ ARVN traded up $0.06 during midday trading on Thursday, hitting $7.58. The company's stock had a trading volume of 1,215,905 shares, compared to its average volume of 2,103,158. The business's fifty day simple moving average is $7.48 and its two-hundred day simple moving average is $7.68. Arvinas has a 1 year low of $5.90 and a 1 year high of $29.61. The firm has a market capitalization of $556.14 million, a price-to-earnings ratio of -7.52 and a beta of 2.38.

Arvinas (NASDAQ:ARVN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.84) EPS for the quarter, beating the consensus estimate of ($0.87) by $0.03. Arvinas had a negative net margin of 19.47% and a negative return on equity of 12.01%. The business 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 posted ($0.49) earnings per share. The business's revenue for the quarter was down 70.7% compared to the same quarter last year. Analysts anticipate that Arvinas will post -3.81 EPS for the current fiscal year.

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

Insider Activity at Arvinas

In other news, CFO Andrew Saik sold 5,700 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $7.61, for a total transaction of $43,377.00. Following the completion of the transaction, the chief financial officer owned 164,401 shares of the company's stock, valued at approximately $1,251,091.61. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.73% of the company's stock.

Hedge Funds Weigh In On Arvinas

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Arvinas by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 8,362,200 shares of the company's stock valued at $58,703,000 after buying an additional 1,299,639 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in Arvinas during the first quarter worth $12,636,000. Geode Capital Management LLC raised its stake in Arvinas by 3.1% during the second quarter. Geode Capital Management LLC now owns 1,585,092 shares of the company's stock worth $11,668,000 after acquiring an additional 48,296 shares in the last quarter. Acadian Asset Management LLC raised its stake in Arvinas by 791.1% during the second quarter. Acadian Asset Management LLC now owns 1,427,832 shares of the company's stock worth $10,498,000 after acquiring an additional 1,267,593 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Arvinas by 208.4% during the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company's stock worth $9,198,000 after acquiring an additional 885,483 shares in the last quarter. Institutional investors and hedge funds 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.