Arvinas (NASDAQ:ARVN) Price Target Raised to $16.00

Barclays has raised its target price for Arvinas (NASDAQ:ARVN) from $15.00 to $16.00, maintaining an "overweight" rating. This new target suggests a potential upside of 63.02% from the current price. Other analysts have varied opinions, with Goldman Sachs lowering its target to $6.00 and Piper Sandler also setting a $16.00 target. Arvinas reported a quarterly EPS of ($0.48), exceeding estimates, and announced a $100 million share buyback plan. The stock has seen significant insider trading activity, indicating confidence in its value.

Arvinas (NASDAQ:ARVN - Get Free Report) had its target price upped by analysts at Barclays from $15.00 to $16.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price target would indicate a potential upside of 63.02% from the stock's current price.

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ARVN has been the topic of several other research reports. The Goldman Sachs Group restated a "sell" rating and set a $6.00 target price (down previously from $8.00) on shares of Arvinas in a research note on Wednesday, October 15th. Piper Sandler restated an "overweight" rating and set a $16.00 price target on shares of Arvinas in a research note on Tuesday, October 7th. Guggenheim dropped their price objective on shares of Arvinas from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Wedbush reaffirmed a "neutral" rating and set a $9.00 target price (down from $10.00) on shares of Arvinas in a report on Thursday, September 18th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Arvinas in a research report on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $16.39.

View Our Latest Analysis on ARVN

Arvinas Trading Up 2.6%

ARVN stock opened at $9.82 on Thursday. The firm's 50-day moving average price is $8.72 and its two-hundred day moving average price is $7.89. The stock has a market capitalization of $720.60 million, a price-to-earnings ratio of -9.61 and a beta of 2.38. Arvinas has a 12-month low of $5.90 and a 12-month high of $28.75.

Arvinas (NASDAQ:ARVN - Get Free Report) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, beating analysts' consensus estimates of ($0.75) by $0.27. Arvinas had a negative return on equity of 12.01% and a negative net margin of 19.47%.The business had revenue of $41.90 million during the quarter, compared to analyst estimates of $29.36 million. During the same quarter in the prior year, the company posted ($0.68) EPS. Arvinas's quarterly revenue was down 59.1% compared to the same quarter last year. Equities analysts predict that Arvinas will post -3.81 EPS for the current year.

Arvinas declared that its board has initiated a share buyback plan on Wednesday, September 17th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 17.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Briggs Morrison acquired 30,000 shares of the stock in a transaction on Monday, September 22nd. The stock was bought at an average cost of $7.57 per share, with a total value of $227,100.00. Following the transaction, the director directly owned 76,021 shares in the company, valued at approximately $575,478.97. This represents a 65.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 4.73% of the stock is currently owned by insiders.

Institutional Trading of Arvinas

Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its position in shares of Arvinas by 965.4% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,656 shares of the company's stock worth $33,000 after buying an additional 4,219 shares during the last quarter. Tower Research Capital LLC TRC grew 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 worth $43,000 after purchasing an additional 4,835 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of Arvinas by 109.4% during the second quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company's stock worth $49,000 after purchasing an additional 3,500 shares in the last quarter. CWM LLC lifted its holdings in shares of Arvinas by 2,317.5% during the 1st quarter. CWM LLC now owns 7,615 shares of the company's stock valued at $53,000 after purchasing an additional 7,300 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Arvinas in the 3rd quarter worth $68,000. 95.19% of the stock is owned by hedge funds and other institutional investors.

About Arvinas

(Get Free Report)

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.

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