Arvinas (NASDAQ:ARVN) Price Target Raised to $21.00 at Citigroup

Arvinas (NASDAQ:ARVN) had its target price boosted by stock analysts at Citigroup from $18.00 to $21.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 92.75% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. BTIG Research raised their target price on shares of Arvinas from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday. Wedbush boosted their price objective on shares of Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arvinas in a research note on Monday, December 22nd. Wall Street Zen lowered Arvinas from a “hold” rating to a “sell” rating in a research report on Monday, March 2nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $20.00 price objective (up from $16.00) on shares of Arvinas in a report on Wednesday, February 25th. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.88.

Arvinas Trading Up 0.0%

Shares of ARVN traded up $0.01 during trading hours on Thursday, reaching $10.90. The stock had a trading volume of 297,617 shares, compared to its average volume of 806,105. The firm has a 50-day simple moving average of $12.74 and a 200 day simple moving average of $11.13. Arvinas has a 12 month low of $5.90 and a 12 month high of $14.51. The company has a market capitalization of $696.84 million, a price-to-earnings ratio of -8.52 and a beta of 1.87.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, February 24th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.55). The firm had revenue of $9.50 million during the quarter, compared to analysts’ expectations of $37.26 million. Arvinas had a negative return on equity of 14.25% and a negative net margin of 30.77%.The business’s revenue for the quarter was down 84.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.63) earnings per share. On average, equities analysts forecast that Arvinas will post -3.81 EPS for the current year.

Insider Activity

In other Arvinas news, Director Briggs Morrison acquired 20,000 shares of Arvinas stock in a transaction that occurred on Friday, March 6th. The stock was bought at an average price of $13.40 per share, with a total value of $268,000.00. Following the completion of the purchase, the director directly owned 96,021 shares of the company’s stock, valued at approximately $1,286,681.40. This represents a 26.31% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Randy Teel sold 4,786 shares of Arvinas stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $12.16, for a total value of $58,197.76. Following the completion of the transaction, the chief executive officer owned 149,696 shares in the company, valued at $1,820,303.36. This trade represents a 3.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 57,429 shares of company stock valued at $731,014. 4.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arvinas

A number of large investors have recently made changes to their positions in ARVN. Tower Research Capital LLC TRC increased its holdings in Arvinas by 491.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock valued at $43,000 after buying an additional 4,835 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Arvinas by 109.4% during 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 in the last quarter. State of Wyoming acquired a new position in shares of Arvinas during the 3rd quarter worth about $68,000. Abel Hall LLC purchased a new position in shares of Arvinas in the 4th quarter valued at about $125,000. Finally, Corient Private Wealth LLC acquired a new stake in shares of Arvinas during the 4th quarter worth about $127,000. 95.19% of the stock is owned by institutional investors and hedge funds.

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.