Arvinas (NASDAQ:ARVN) Receives New Coverage from Analysts at Jefferies Financial Group

Investment analysts at Jefferies Financial Group initiated coverage on shares of Arvinas (NASDAQ:ARVNGet Rating) in a research note issued to investors on Tuesday, Briefing.com reports. The firm set a “hold” rating and a $42.00 price target on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 9.52% from the stock’s previous close.

Several other analysts have also recently commented on ARVN. Wedbush cut shares of Arvinas from an “outperform” rating to a “neutral” rating and set a $43.00 target price for the company. in a research report on Monday, May 9th. Morgan Stanley initiated coverage on shares of Arvinas in a research note on Wednesday, April 6th. They set an “equal weight” rating and a $65.00 price objective for the company. Stifel Europe cut their target price on shares of Arvinas from $85.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, May 5th. Stifel Nicolaus lowered their price target on shares of Arvinas from $93.00 to $85.00 in a report on Tuesday, April 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a report on Friday, April 1st. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $96.88.

ARVN opened at $38.35 on Tuesday. Arvinas has a 12 month low of $34.90 and a 12 month high of $108.46. The stock has a market cap of $2.04 billion, a P/E ratio of -9.20 and a beta of 2.07. The stock’s 50 day moving average price is $48.57 and its 200 day moving average price is $62.54.

Arvinas (NASDAQ:ARVNGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.29). The firm had revenue of $24.20 million for the quarter, compared to analyst estimates of $25.51 million. Arvinas had a negative net margin of 326.72% and a negative return on equity of 29.38%. Arvinas’s revenue for the quarter was up 340.0% compared to the same quarter last year. As a group, equities analysts predict that Arvinas will post -4.52 EPS for the current fiscal year.

In other Arvinas news, Director Briggs Morrison sold 20,960 shares of the business’s stock in a transaction dated Thursday, April 14th. The shares were sold at an average price of $66.44, for a total value of $1,392,582.40. Following the transaction, the director now directly owns 19,976 shares in the company, valued at $1,327,205.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.78% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky increased its stake in Arvinas by 98.6% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 16,426 shares of the company’s stock valued at $1,105,000 after purchasing an additional 8,155 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Arvinas by 113.4% in the first quarter. The Manufacturers Life Insurance Company now owns 49,901 shares of the company’s stock worth $3,253,000 after buying an additional 26,522 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Arvinas by 12.9% in the first quarter. BNP Paribas Arbitrage SA now owns 22,957 shares of the company’s stock worth $1,545,000 after purchasing an additional 2,616 shares during the last quarter. Alyeska Investment Group L.P. increased its position in Arvinas by 5.3% in the first quarter. Alyeska Investment Group L.P. now owns 143,525 shares of the company’s stock worth $9,659,000 after purchasing an additional 7,194 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its position in Arvinas by 5.7% in the first quarter. Ensign Peak Advisors Inc now owns 86,374 shares of the company’s stock worth $5,812,000 after purchasing an additional 4,682 shares during the last quarter. 84.52% of the stock is owned by hedge funds and other institutional investors.

Arvinas Company Profile (Get Rating)

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.

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