HC Wainwright Reaffirms Buy Rating for Arvinas (NASDAQ:ARVN)

Arvinas (NASDAQ:ARVN)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a report issued on Monday,Benzinga reports. They presently have a $81.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group cut Arvinas from a “buy” rating to a “neutral” rating and decreased their price target for the company from $70.00 to $15.00 in a report on Thursday, March 13th. Morgan Stanley reduced their target price on shares of Arvinas from $48.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Stifel Nicolaus cut their price objective on shares of Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. BTIG Research started coverage on shares of Arvinas in a report on Tuesday, December 10th. They set a “buy” rating and a $69.00 target price for the company. Finally, Wedbush cut shares of Arvinas from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $57.00 to $12.00 in a research report on Wednesday, March 12th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arvinas currently has an average rating of “Moderate Buy” and a consensus price target of $35.50.

Arvinas Trading Down 2.8 %

ARVN opened at $6.19 on Monday. Arvinas has a 1-year low of $6.00 and a 1-year high of $39.34. The stock has a market capitalization of $425.70 million, a PE ratio of -2.23 and a beta of 2.30. The firm has a 50-day moving average price of $13.45 and a two-hundred day moving average price of $19.64.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period last year, the company earned ($2.53) earnings per share. On average, research analysts predict that Arvinas will post -3.81 EPS for the current year.

Insider Buying and Selling

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total transaction of $74,372.22. Following the sale, the insider now directly owns 110,023 shares of the company’s stock, valued at $945,097.57. The trade was a 7.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ian Taylor sold 9,020 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.71, for a total value of $150,724.20. Following the completion of the transaction, the insider now owns 159,121 shares of the company’s stock, valued at $2,658,911.91. The trade was a 5.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,230 shares of company stock worth $769,402. 5.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new position in shares of Arvinas in the fourth quarter valued at $28,000. KBC Group NV lifted its stake in Arvinas by 77.0% in the fourth quarter. KBC Group NV now owns 2,885 shares of the company’s stock valued at $55,000 after acquiring an additional 1,255 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Arvinas in the 4th quarter valued at about $171,000. Tema Etfs LLC bought a new position in shares of Arvinas in the 4th quarter valued at about $227,000. Finally, Teacher Retirement System of Texas increased its stake in shares of Arvinas by 19.0% during the 4th quarter. Teacher Retirement System of Texas now owns 14,295 shares of the company’s stock worth $274,000 after purchasing an additional 2,280 shares during the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Company Profile

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.