BMO Capital Markets Increases Arvinas (NASDAQ:ARVN) Price Target to $111.00

Last updated on Friday, July 23, 2021 | 2021 MarketBeat

Arvinas (NASDAQ:ARVN) had its price objective increased by analysts at BMO Capital Markets from $101.00 to $111.00 in a note issued to investors on Friday, The Fly reports. The firm currently has an "outperform" rating on the stock. BMO Capital Markets' price target points to a potential upside of 20.73% from the company's previous close.

ARVN has been the subject of several other research reports. Zacks Investment Research upgraded shares of Arvinas from a "sell" rating to a "hold" rating in a report on Friday, May 7th. Truist Securities upped their price target on shares of Arvinas from $150.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday. Piper Sandler reissued an "overweight" rating and issued a $105.00 price objective (up from $97.00) on shares of Arvinas in a research note on Thursday. UBS Group assumed coverage on shares of Arvinas in a research note on Thursday, May 20th. They issued a "buy" rating and a $123.00 price objective on the stock. Finally, Truist upped their price target on shares of Arvinas from $150.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of "Buy" and an average target price of $126.13.

ARVN stock traded up $7.43 during trading on Friday, reaching $91.94. 27,799 shares of the stock were exchanged, compared to its average volume of 348,970. The stock has a 50 day simple moving average of $75.26. Arvinas has a 1 year low of $19.68 and a 1 year high of $92.77. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of -28.19 and a beta of 2.00.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Monday, May 3rd. The company reported ($0.84) earnings per share for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.01). The company had revenue of $5.54 million for the quarter, compared to analyst estimates of $3.92 million. Arvinas had a negative net margin of 656.61% and a negative return on equity of 33.38%. Equities analysts expect that Arvinas will post -3.45 earnings per share for the current fiscal year.

In other Arvinas news, CEO John G. Houston sold 700 shares of Arvinas stock in a transaction dated Wednesday, June 9th. The stock was sold at an average price of $80.15, for a total transaction of $56,105.00. Following the transaction, the chief executive officer now owns 828,343 shares of the company's stock, valued at approximately $66,391,691.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Ronald Peck sold 20,000 shares of Arvinas stock in a transaction dated Wednesday, June 30th. The shares were sold at an average price of $76.69, for a total value of $1,533,800.00. Following the sale, the insider now owns 22,754 shares of the company's stock, valued at $1,745,004.26. The disclosure for this sale can be found here. 10.99% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in Arvinas by 167.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,245,449 shares of the company's stock valued at $190,706,000 after acquiring an additional 1,405,654 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Arvinas by 125.6% during the first quarter. Point72 Asset Management L.P. now owns 1,128,100 shares of the company's stock valued at $74,567,000 after acquiring an additional 628,100 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Arvinas by 39.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,612,931 shares of the company's stock valued at $136,986,000 after acquiring an additional 458,362 shares during the period. EcoR1 Capital LLC acquired a new position in Arvinas in the first quarter valued at about $21,066,000. Finally, Wasatch Advisors Inc. acquired a new position in Arvinas in the first quarter valued at about $17,365,000. Institutional investors and hedge funds own 88.12% of the company's stock.

Arvinas Company Profile

Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates are ARV-110, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer; and ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer.

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