Arvinas’ (ARVN) “Buy” Rating Reiterated at Truist Financial

Truist Financial restated their buy rating on shares of Arvinas (NASDAQ:ARVN) in a research note released on Monday, Benzinga reports. They currently have a $65.00 price target on the stock.

Several other analysts also recently weighed in on ARVN. Wells Fargo & Company upgraded shares of Arvinas from an equal weight rating to an overweight rating and boosted their price objective for the stock from $25.00 to $63.00 in a research report on Tuesday, December 19th. The Goldman Sachs Group initiated coverage on shares of Arvinas in a research note on Thursday, February 1st. They issued a buy rating and a $70.00 price objective on the stock. Jefferies Financial Group raised shares of Arvinas from a hold rating to a buy rating and boosted their price objective for the company from $32.00 to $40.00 in a research note on Wednesday, December 6th. HC Wainwright reissued a buy rating and issued a $90.00 price objective on shares of Arvinas in a research note on Wednesday, February 28th. Finally, BMO Capital Markets boosted their price objective on shares of Arvinas from $89.00 to $90.00 and gave the company an outperform rating in a research note on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Arvinas has an average rating of Moderate Buy and a consensus target price of $59.93.

Arvinas Trading Up 0.8 %

Shares of NASDAQ:ARVN opened at $41.33 on Monday. The company has a market capitalization of $2.81 billion, a PE ratio of -6.36 and a beta of 1.95. Arvinas has a twelve month low of $13.57 and a twelve month high of $53.08. The firm has a 50 day simple moving average of $44.83 and a 200-day simple moving average of $32.46.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($2.53) earnings per share for the quarter, missing the consensus estimate of ($1.15) by ($1.38). The company had revenue of ($43.10) million for the quarter, compared to analysts’ expectations of $38.91 million. Arvinas had a negative return on equity of 70.24% and a negative net margin of 185.09%. During the same quarter in the prior year, the firm posted ($1.56) EPS. As a group, equities research analysts predict that Arvinas will post -5.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO John G. Houston sold 5,196 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $244,471.80. Following the sale, the chief executive officer now directly owns 1,036,681 shares in the company, valued at approximately $48,775,841.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Arvinas news, CFO Sean A. Cassidy sold 1,702 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $80,079.10. Following the transaction, the chief financial officer now directly owns 181,916 shares in the company, valued at approximately $8,559,147.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John G. Houston sold 5,196 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $244,471.80. Following the completion of the transaction, the chief executive officer now owns 1,036,681 shares in the company, valued at $48,775,841.05. The disclosure for this sale can be found here. Insiders have sold 8,597 shares of company stock worth $404,489 in the last three months. Corporate insiders own 2.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC acquired a new position in shares of Arvinas during the 1st quarter valued at about $57,000. Royal Bank of Canada increased its position in Arvinas by 37.6% during the 3rd quarter. Royal Bank of Canada now owns 1,230 shares of the company’s stock worth $54,000 after purchasing an additional 336 shares in the last quarter. Pathstone Family Office LLC acquired a new stake in Arvinas during the 4th quarter worth approximately $207,000. China Universal Asset Management Co. Ltd. increased its position in Arvinas by 96.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,374 shares of the company’s stock worth $27,000 after purchasing an additional 674 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Arvinas by 1,015.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,383 shares of the company’s stock worth $34,000 after purchasing an additional 1,259 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.