Equities research analysts at Credit Suisse Group started coverage on shares of Arvinas (NASDAQ:ARVN – Get Rating) in a research report issued to clients and investors on Thursday, The Fly reports. The brokerage set an “outperform” rating and a $104.00 price target on the stock. Credit Suisse Group’s target price suggests a potential upside of 80.59% from the stock’s previous close.
A number of other analysts also recently issued reports on ARVN. Wedbush decreased their price objective on shares of Arvinas from $115.00 to $98.00 in a report on Friday, February 18th. Stifel Nicolaus reduced their target price on shares of Arvinas from $93.00 to $85.00 in a research note on Tuesday. Zacks Investment Research downgraded shares of Arvinas from a “buy” rating to a “hold” rating in a research note on Thursday, March 3rd. Wells Fargo & Company assumed coverage on shares of Arvinas in a research note on Thursday, February 10th. They issued an “overweight” rating and a $98.00 target price for the company. Finally, Morgan Stanley initiated coverage on shares of Arvinas in a research note on Wednesday, April 6th. They issued an “equal weight” rating and a $65.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Arvinas has a consensus rating of “Buy” and a consensus target price of $112.06.
Shares of ARVN stock opened at $57.59 on Thursday. The firm has a 50-day moving average of $66.09 and a 200-day moving average of $73.33. The company has a market cap of $3.05 billion, a P/E ratio of -15.12 and a beta of 2.00. Arvinas has a one year low of $56.07 and a one year high of $108.46.
Arvinas (NASDAQ:ARVN – Get Rating) last announced its earnings results on Monday, February 28th. The company reported ($1.00) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.79) by ($0.21). Arvinas had a negative net margin of 409.29% and a negative return on equity of 27.31%. The firm had revenue of $26.30 million during the quarter, compared to analysts’ expectations of $15.08 million. The company’s quarterly revenue was up 1095.5% compared to the same quarter last year. On average, equities research analysts predict that Arvinas will post -3.68 earnings per share for the current year.
In other news, Director Briggs Morrison sold 20,960 shares of the business’s stock in a transaction on Thursday, April 14th. The shares were sold at an average price of $66.44, for a total transaction of $1,392,582.40. Following the sale, the director now owns 19,976 shares in the company, valued at approximately $1,327,205.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John G. Houston sold 6,024 shares of the business’s stock in a transaction on Friday, March 4th. The shares were sold at an average price of $63.94, for a total transaction of $385,174.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,446 shares of company stock worth $4,445,577. Insiders own 6.45% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Voloridge Investment Management LLC bought a new stake in shares of Arvinas during the 3rd quarter valued at $2,549,000. Natixis bought a new position in Arvinas in the 3rd quarter worth about $1,939,000. BlackRock Inc. boosted its stake in Arvinas by 5.3% in the 3rd quarter. BlackRock Inc. now owns 3,275,456 shares of the company’s stock worth $269,178,000 after purchasing an additional 165,086 shares in the last quarter. Polianta Ltd bought a new position in Arvinas in the 4th quarter worth about $1,338,000. Finally, Banque Pictet & Cie SA bought a new position in Arvinas in the 4th quarter worth about $2,276,000. Hedge funds and other institutional investors own 89.18% of the company’s stock.
About Arvinas
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.