Arvinas (NASDAQ:ARVN) Stock Price Expected to Rise, Citigroup Analyst Says

Arvinas (NASDAQ:ARVN) had its price objective hoisted by equities research analysts at Citigroup from $15.00 to $18.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 32.35% from the company’s current price.

Several other brokerages also recently weighed in on ARVN. Wedbush increased their target price on shares of Arvinas from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Wall Street Zen cut shares of Arvinas from a “hold” rating to a “sell” rating in a research note on Monday, March 2nd. Wells Fargo & Company cut their price target on shares of Arvinas from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Piper Sandler reissued an “overweight” rating and issued a $20.00 price objective (up from $16.00) on shares of Arvinas in a research report on Wednesday, February 25th. Finally, Barclays raised their price objective on shares of Arvinas from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 17th. Ten equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Arvinas has a consensus rating of “Hold” and an average price target of $13.65.

Arvinas Stock Performance

NASDAQ ARVN opened at $13.60 on Thursday. The company has a market cap of $869.86 million, a P/E ratio of -10.62 and a beta of 1.87. The business’s 50 day moving average price is $12.61 and its 200-day moving average price is $10.82. Arvinas has a fifty-two week low of $5.90 and a fifty-two week high of $18.76.

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

Insider Activity at Arvinas

In other Arvinas news, CEO Randy Teel sold 4,786 shares of the firm’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $12.16, for a total transaction of $58,197.76. Following the transaction, the chief executive officer directly owned 149,696 shares in the company, valued at $1,820,303.36. This trade represents a 3.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Noah Berkowitz sold 5,685 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $11.89, for a total value of $67,594.65. Following the transaction, the insider owned 163,938 shares in the company, valued at $1,949,222.82. The trade was a 3.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 57,429 shares of company stock worth $731,014. Insiders own 4.73% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Several hedge funds have recently made changes to their positions in ARVN. Armistice Capital LLC increased its stake in shares of Arvinas by 50.0% during the fourth quarter. Armistice Capital LLC now owns 1,800,000 shares of the company’s stock valued at $21,348,000 after buying an additional 600,000 shares during the period. TCG Crossover Management LLC purchased a new stake in Arvinas in the third quarter worth about $13,780,000. Geode Capital Management LLC lifted its stake in Arvinas by 3.1% in the second quarter. Geode Capital Management LLC now owns 1,585,092 shares of the company’s stock worth $11,668,000 after acquiring an additional 48,296 shares during the period. Qube Research & Technologies Ltd grew its holdings in Arvinas by 154.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,486,864 shares of the company’s stock worth $12,668,000 after acquiring an additional 903,337 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Arvinas by 791.1% during the 2nd quarter. Acadian Asset Management LLC now owns 1,427,832 shares of the company’s stock worth $10,498,000 after acquiring an additional 1,267,593 shares in the last quarter. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

About Arvinas

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.