Analysts Set Arvinas, Inc. (NASDAQ:ARVN) Target Price at $16.50

Shares of Arvinas, Inc. (NASDAQ:ARVN) have received a consensus recommendation of “Hold” from the twenty-three research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $16.7895.

A number of research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Arvinas in a research note on Monday, December 22nd. Stephens lifted their price target on Arvinas from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Monday, November 10th. Bank of America downgraded Arvinas from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Wednesday, September 24th. Wedbush reissued a “neutral” rating and issued a $9.00 price objective on shares of Arvinas in a report on Thursday, November 6th. Finally, Piper Sandler restated an “overweight” rating and issued a $16.00 target price on shares of Arvinas in a research report on Tuesday, October 7th.

Arvinas Price Performance

Shares of ARVN opened at $12.07 on Tuesday. Arvinas has a 12 month low of $5.90 and a 12 month high of $20.38. The stock has a fifty day moving average price of $11.74 and a 200 day moving average price of $9.35. The company has a market cap of $775.14 million, a P/E ratio of -14.90 and a beta of 1.89.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.27. The company had revenue of $41.90 million during the quarter, compared to the consensus estimate of $29.36 million. Arvinas had a negative net margin of 18.73% and a negative return on equity of 9.77%. The company’s revenue for the quarter was down 59.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.68) earnings per share. As a group, research analysts anticipate that Arvinas will post -3.81 earnings per share for the current year.

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

Institutional Investors Weigh In On Arvinas

Institutional investors have recently bought and sold shares of the stock. Intech Investment Management LLC increased its stake in Arvinas by 3.6% during the 3rd quarter. Intech Investment Management LLC now owns 32,653 shares of the company’s stock valued at $278,000 after buying an additional 1,125 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Arvinas by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock worth $271,000 after acquiring an additional 2,122 shares during the period. Oxford Asset Management LLP boosted its holdings in shares of Arvinas by 15.5% in the second quarter. Oxford Asset Management LLP now owns 16,705 shares of the company’s stock valued at $123,000 after acquiring an additional 2,242 shares in the last quarter. Entropy Technologies LP increased its stake in shares of Arvinas by 8.6% during the third quarter. Entropy Technologies LP now owns 35,295 shares of the company’s stock valued at $301,000 after acquiring an additional 2,804 shares during the period. Finally, Nebula Research & Development LLC increased its stake in shares of Arvinas by 3.9% during the second quarter. Nebula Research & Development LLC now owns 76,747 shares of the company’s stock valued at $565,000 after acquiring an additional 2,910 shares during the period. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Company Profile

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.