Arvinas (NASDAQ:ARVN) Earns Overweight Rating from Analysts at Barclays

Key Points

• Barclays has reaffirmed its "overweight" rating for Arvinas (NASDAQ:ARVN), setting a price target of $16.00, indicating a potential upside of 109.42% from current levels.
• Despite Barclays’ positive outlook, other analysts have varied opinions with Guggenheim lowering its price target to $15.00 and Leerink Partners dropping its rating from "strong-buy" to "hold."
• Arvinas reported a 70.7% decline in year-over-year revenue, posting a revenue of $22.40 million for the latest quarter.

Analysts at Barclays began coverage on shares of Arvinas (NASDAQ:ARVN - Get Free Report) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage set an "overweight" rating and a $16.00 price target on the stock. Barclays's price target suggests a potential upside of 105.31% from the company's previous close.

A number of other brokerages also recently issued reports on ARVN. Leerink Partnrs downgraded Arvinas from a "strong-buy" rating to a "hold" rating in a report on Sunday, June 1st. Leerink Partners reaffirmed a "market perform" rating and set a $9.00 price target (down from $10.00) on shares of Arvinas in a report on Monday, June 2nd. HC Wainwright cut their target price on Arvinas from $24.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Wells Fargo & Company cut their target price on Arvinas from $19.00 to $16.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Finally, Guggenheim cut their target price on Arvinas from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Twelve analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, Arvinas presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.76.

Arvinas Trading Up 2.0%

NASDAQ:ARVN traded up $0.15 during midday trading on Wednesday, reaching $7.79. The company had a trading volume of 160,178 shares, compared to its average volume of 2,081,701. The firm has a market capitalization of $572.16 million, a price-to-earnings ratio of -7.72 and a beta of 2.38. The stock's fifty day simple moving average is $7.50 and its 200-day simple moving average is $7.94. Arvinas has a 12-month low of $5.90 and a 12-month high of $29.61.

Arvinas (NASDAQ:ARVN - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.84) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 12.01% and a negative net margin of 19.47%.Arvinas's revenue was down 70.7% compared to the same quarter last year. During the same period last year, the business posted ($0.49) earnings per share. As a group, sell-side analysts expect that Arvinas will post -3.81 EPS for the current year.

Insider Buying and Selling at Arvinas

In other Arvinas news, CFO Andrew Saik sold 5,700 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $7.61, for a total transaction of $43,377.00. Following the transaction, the chief financial officer owned 164,401 shares of the company's stock, valued at $1,251,091.61. This represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.73% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Alyeska Investment Group L.P. acquired a new stake in shares of Arvinas during the 1st quarter worth $12,636,000. Vanguard Group Inc. increased its holdings 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 worth $58,703,000 after buying an additional 1,299,639 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Arvinas by 791.1% during 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 during the last quarter. Philosophy Capital Management LLC acquired a new stake in shares of Arvinas during the 1st quarter worth $6,992,000. Finally, Federated Hermes Inc. increased its holdings in shares of Arvinas by 1,965.0% during the 1st quarter. Federated Hermes Inc. now owns 980,674 shares of the company's stock worth $6,884,000 after buying an additional 933,183 shares during the last quarter. Hedge funds and other 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.