Arvinas (NASDAQ:ARVN) Earns Buy Rating from Analysts at Roth Capital

Roth Capital began coverage on shares of Arvinas (NASDAQ:ARVN) in a research note issued to investors on Thursday morning, The Fly reports. The firm issued a buy rating and a $35.00 price objective on the stock.

A number of other analysts have also issued reports on the company. Wedbush initiated coverage on Arvinas in a report on Tuesday, September 24th. They issued an outperform rating and a $38.00 price target for the company. Cantor Fitzgerald initiated coverage on Arvinas in a report on Monday, August 5th. They issued an overweight rating and a $42.00 price target for the company. ValuEngine lowered Arvinas from a hold rating to a sell rating in a report on Friday, November 8th. Piper Jaffray Companies reiterated a buy rating and issued a $35.00 price target (up previously from $32.00) on shares of Arvinas in a report on Wednesday. Finally, Zacks Investment Research lowered Arvinas from a strong-buy rating to a hold rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Arvinas currently has a consensus rating of Buy and a consensus target price of $32.75.

Shares of NASDAQ:ARVN traded up $0.45 during trading hours on Thursday, hitting $30.49. 778,600 shares of the company’s stock traded hands, compared to its average volume of 194,840. Arvinas has a 1 year low of $10.19 and a 1 year high of $30.85. The business has a fifty day moving average price of $20.72 and a 200-day moving average price of $22.66. The firm has a market capitalization of $896.04 million, a P/E ratio of -1.20 and a beta of 2.13. The company has a debt-to-equity ratio of 0.03, a current ratio of 6.79 and a quick ratio of 6.79.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.67. The firm had revenue of $30.05 million during the quarter, compared to analyst estimates of $11.42 million. Arvinas had a negative return on equity of 31.57% and a negative net margin of 157.34%. As a group, equities analysts predict that Arvinas will post -2.13 earnings per share for the current year.

In related news, insider Ian Taylor sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $21.86, for a total value of $218,600.00. Also, Director Liam Ratcliffe acquired 680,000 shares of Arvinas stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average cost of $22.00 per share, with a total value of $14,960,000.00. The disclosure for this purchase can be found here. 31.77% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of ARVN. BlackRock Inc. raised its stake in Arvinas by 124.5% in the second quarter. BlackRock Inc. now owns 1,038,838 shares of the company’s stock worth $22,845,000 after buying an additional 576,137 shares in the last quarter. Point72 Asset Management L.P. raised its stake in Arvinas by 65.9% in the second quarter. Point72 Asset Management L.P. now owns 688,623 shares of the company’s stock worth $15,143,000 after buying an additional 273,623 shares in the last quarter. Bank of America Corp DE raised its stake in Arvinas by 14,782.2% in the second quarter. Bank of America Corp DE now owns 232,609 shares of the company’s stock worth $5,116,000 after buying an additional 231,046 shares in the last quarter. Nuveen Asset Management LLC bought a new position in Arvinas in the second quarter worth approximately $4,834,000. Finally, Vanguard Group Inc. raised its stake in Arvinas by 33.0% in the second quarter. Vanguard Group Inc. now owns 545,305 shares of the company’s stock worth $11,991,000 after buying an additional 135,177 shares in the last quarter. 46.79% of the stock is owned by institutional investors.

About Arvinas

Arvinas, Inc, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead products include ARV-110, proteolysis targeting chimeras (PROTAC) that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer; and ARV-471, a PROTAC targeting the estrogen receptor protein for the treatment of women with metastatic ER positive/HER2 negative breast cancer.

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Analyst Recommendations for Arvinas (NASDAQ:ARVN)

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