Barclays Issues Positive Forecast for Arvinas (NASDAQ:ARVN) Stock Price

Arvinas (NASDAQ:ARVN) had its price target hoisted by Barclays from $15.00 to $16.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the company. Stephens reduced their target price on Arvinas from $16.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, September 18th. The Goldman Sachs Group restated a “sell” rating and issued a $6.00 price objective (down previously from $8.00) on shares of Arvinas in a report on Wednesday, October 15th. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 target price on shares of Arvinas in a report on Tuesday, October 7th. Wells Fargo & Company decreased their price target on shares of Arvinas from $19.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, August 7th. Finally, HC Wainwright lowered their price target on shares of Arvinas from $24.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Arvinas currently has a consensus rating of “Hold” and a consensus target price of $16.34.

Arvinas Stock Performance

Shares of NASDAQ:ARVN traded up $0.63 during midday trading on Thursday, reaching $10.63. 2,600,381 shares of the company’s stock traded hands, compared to its average volume of 2,175,635. The company has a market cap of $780.45 million, a P/E ratio of -13.12 and a beta of 2.38. The company has a fifty day simple moving average of $8.77 and a two-hundred day simple moving average of $7.90. Arvinas has a 1 year low of $5.90 and a 1 year high of $28.70.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data 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 business had revenue of $41.90 million for 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 9.58%. The company’s revenue was down 59.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.68) earnings per share. As a group, research analysts forecast that Arvinas will post -3.81 EPS for the current fiscal year.

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

Insider Buying and Selling

In other Arvinas news, Director Briggs Morrison purchased 30,000 shares of the stock in a transaction dated Monday, September 22nd. The stock was acquired at an average cost of $7.57 per share, for a total transaction of $227,100.00. Following the acquisition, the director owned 76,021 shares in the company, valued at $575,478.97. This trade represents a 65.19% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd boosted its stake in Arvinas by 965.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company’s stock worth $33,000 after buying an additional 4,219 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Arvinas by 491.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock valued at $43,000 after acquiring an additional 4,835 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Arvinas by 109.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after acquiring an additional 3,500 shares during the last quarter. CWM LLC boosted its position in shares of Arvinas by 2,317.5% during the 1st quarter. CWM LLC now owns 7,615 shares of the company’s stock worth $53,000 after purchasing an additional 7,300 shares during the period. Finally, State of Wyoming acquired a new stake in Arvinas in the 3rd quarter valued at approximately $68,000. 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.