Cantor Fitzgerald reaffirmed their overweight rating on shares of Arvinas (NASDAQ:ARVN – Get Rating) in a research note published on Wednesday morning, PriceTargets.com reports. Cantor Fitzgerald also issued estimates for Arvinas' FY2022 earnings at ($4.84) EPS and FY2023 earnings at ($6.19) EPS.
Several other brokerages have also recently commented on ARVN. Credit Suisse Group lowered their target price on shares of Arvinas from $98.00 to $78.00 and set an outperform rating on the stock in a report on Friday, August 5th. HC Wainwright lowered their target price on shares of Arvinas from $135.00 to $90.00 and set a buy rating on the stock in a report on Friday, August 5th. Oppenheimer lowered their target price on shares of Arvinas from $108.00 to $102.00 and set an outperform rating on the stock in a report on Monday, August 8th. SVB Leerink lowered their target price on shares of Arvinas from $91.00 to $89.00 and set an outperform rating on the stock in a report on Friday, August 5th. Finally, Jefferies Financial Group began coverage on shares of Arvinas in a research note on Tuesday, June 21st. They issued a hold rating and a $42.00 price objective on the stock. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Arvinas currently has a consensus rating of Moderate Buy and an average price target of $82.13.
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Arvinas Stock Down 2.0 %
Shares of ARVN stock opened at $42.06 on Wednesday. The firm has a 50 day moving average price of $48.80 and a two-hundred day moving average price of $51.67. The company has a market capitalization of $2.24 billion, a PE ratio of -9.43 and a beta of 2.06. Arvinas has a 12-month low of $34.90 and a 12-month high of $97.33.
Arvinas (NASDAQ:ARVN – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.02) by ($0.30). Arvinas had a negative return on equity of 31.16% and a negative net
margin of 255.97%. The company had revenue of $31.30 million for the quarter, compared to analyst estimates of $23.71 million. During the same quarter last year, the business earned ($1.03) earnings per share. The company's revenue was up 469.1% on a year-over-year basis. As a group, research analysts expect that Arvinas will post -4.73 EPS for the current year.
Insiders Place Their Bets
In other Arvinas news, insider Ronald Peck sold 1,258 shares of the business's stock in a transaction on Friday, August 12th. The shares were sold at an average price of $68.99, for a total transaction of $86,789.42. Following the sale, the insider now owns 8,154 shares of the company's stock, valued at $562,544.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.78% of the company's stock.
Institutional Trading of Arvinas
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. lifted its holdings in shares of Arvinas by 12.7% during the fourth quarter. Invesco Ltd. now owns 543,797 shares of the company's stock worth $44,668,000 after purchasing an additional 61,087 shares during the period. Nordea Investment Management AB acquired a new position in shares of Arvinas during the first quarter worth $245,000. Paradigm Biocapital Advisors LP lifted its holdings in shares of Arvinas by 83.0% during the first quarter. Paradigm Biocapital Advisors LP now owns 491,333 shares of the company's stock worth $33,067,000 after purchasing an additional 222,814 shares during the period. Versor Investments LP lifted its holdings in shares of Arvinas by 421.9% during the first quarter. Versor Investments LP now owns 21,921 shares of the company's stock worth $1,475,000 after purchasing an additional 17,721 shares during the period. Finally, Banque Pictet & Cie SA lifted its holdings in shares of Arvinas by 4.0% during the first quarter. Banque Pictet & Cie SA now owns 28,818 shares of the company's stock worth $1,940,000 after purchasing an additional 1,115 shares during the period. Institutional investors own 91.20% of the company's stock.
About Arvinas
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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 include Bavdegalutamide, 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 (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.
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