Zacks Investment Research upgraded shares of Arvinas (NASDAQ:ARVN) from a sell rating to a hold rating in a research report report published on Monday morning, Zacks.com reports.
According to Zacks, “Arvinas Inc. is a biopharmaceutical company for patients suffering from debilitating and life-threatening diseases. It engages in the discovery, development and commercialization of therapies to degrade disease-causing proteins. Arvinas Inc. is based in CT, United States. “
A number of other equities analysts also recently commented on ARVN. Piper Jaffray Companies lifted their price target on Arvinas from $23.00 to $32.00 and gave the stock an overweight rating in a research note on Wednesday, May 8th. Evercore ISI began coverage on Arvinas in a research note on Thursday, April 11th. They issued an outperform rating for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $23.33.
Shares of Arvinas stock opened at $20.78 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.73 and a quick ratio of 8.73. The stock has a market cap of $707.30 million and a PE ratio of -0.82. Arvinas has a 1-year low of $10.19 and a 1-year high of $25.61.
Arvinas (NASDAQ:ARVN) last announced its earnings results on Wednesday, May 8th. The company reported ($0.46) earnings per share for the quarter, meeting the consensus estimate of ($0.46). The business had revenue of $4.02 million for the quarter, compared to analyst estimates of $3.50 million. On average, analysts predict that Arvinas will post -2.03 EPS for the current fiscal year.
In related news, Director Timothy M. Shannon bought 3,500 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was bought at an average cost of $14.69 per share, for a total transaction of $51,415.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ventures Iii L.P. 5Am sold 361,129 shares of Arvinas stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $14.16, for a total value of $5,113,586.64. The disclosure for this sale can be found here. 31.77% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of ARVN. Strs Ohio acquired a new position in Arvinas in the fourth quarter valued at approximately $26,000. Citigroup Inc. boosted its stake in Arvinas by 602.4% in the first quarter. Citigroup Inc. now owns 2,072 shares of the company’s stock valued at $31,000 after acquiring an additional 1,777 shares during the period. American International Group Inc. acquired a new position in Arvinas in the fourth quarter valued at approximately $66,000. New York State Common Retirement Fund acquired a new position in Arvinas in the first quarter valued at approximately $69,000. Finally, Acadian Asset Management LLC acquired a new position in Arvinas in the first quarter valued at approximately $70,000. Institutional investors own 41.09% of the company’s stock.
Arvinas Company Profile
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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