Piper Sandler reaffirmed their overweight rating on shares of Arvinas (NASDAQ:ARVN - Free Report) in a research report report published on Friday morning,Benzinga reports. Piper Sandler currently has a $14.00 price target on the stock, down from their previous price target of $24.00.
A number of other research analysts have also recently commented on the company. Stifel Nicolaus decreased their price target on Arvinas from $63.00 to $51.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Guggenheim cut their price target on shares of Arvinas from $57.00 to $32.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Bank of America decreased their price objective on shares of Arvinas from $54.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. BMO Capital Markets set a $20.00 price target on Arvinas and gave the stock an "outperform" rating in a report on Wednesday, March 12th. Finally, Truist Financial lowered their target price on Arvinas from $65.00 to $21.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.82.
Check Out Our Latest Research Report on Arvinas
Arvinas Stock Performance
NASDAQ:ARVN traded up $0.49 during mid-day trading on Friday, reaching $7.72. 8,593,139 shares of the company's stock were exchanged, compared to its average volume of 1,251,025. Arvinas has a one year low of $5.94 and a one year high of $37.38. The business's fifty day simple moving average is $9.66 and its two-hundred day simple moving average is $17.37. The firm has a market capitalization of $563.49 million, a PE ratio of -2.79 and a beta of 2.21.
Arvinas (NASDAQ:ARVN - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $1.14 EPS for the quarter, topping the consensus estimate of ($0.93) by $2.07. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. Arvinas's revenue was up 646.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.97) EPS. As a group, equities research analysts forecast that Arvinas will post -3.81 EPS for the current year.
Insider Buying and Selling at Arvinas
In related news, insider Noah Berkowitz sold 8,658 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total value of $74,372.22. Following the completion of the sale, the insider now owns 110,023 shares in the company, valued at $945,097.57. The trade was a 7.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ian Taylor sold 9,020 shares of Arvinas stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.71, for a total transaction of $150,724.20. Following the transaction, the insider now directly owns 159,121 shares in the company, valued at $2,658,911.91. This trade represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,230 shares of company stock valued at $769,402 in the last 90 days. Corporate insiders own 5.23% of the company's stock.
Institutional Trading of Arvinas
Several institutional investors have recently added to or reduced their stakes in ARVN. GF Fund Management CO. LTD. bought a new stake in shares of Arvinas during the 4th quarter valued at about $28,000. KBC Group NV grew its position in Arvinas by 77.0% during the fourth quarter. KBC Group NV now owns 2,885 shares of the company's stock valued at $55,000 after buying an additional 1,255 shares during the period. GAMMA Investing LLC increased its holdings in Arvinas by 11,283.8% during the first quarter. GAMMA Investing LLC now owns 4,212 shares of the company's stock valued at $300,000 after buying an additional 4,175 shares during the last quarter. CWM LLC raised its position in Arvinas by 2,317.5% in the first quarter. CWM LLC now owns 7,615 shares of the company's stock worth $53,000 after acquiring an additional 7,300 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Arvinas during the 4th quarter worth $171,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.
About Arvinas
(
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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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