Arvinas (NASDAQ:ARVN) Coverage Initiated by Analysts at BMO Capital Markets

BMO Capital Markets started coverage on shares of Arvinas (NASDAQ:ARVN) in a report released on Thursday, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $34.00 price objective on the stock.

Several other research firms have also recently weighed in on ARVN. Citigroup cut shares of Arvinas from a buy rating to a neutral rating and upped their price objective for the stock from $21.00 to $22.00 in a research report on Wednesday, June 5th. Cantor Fitzgerald began coverage on shares of Arvinas in a research report on Monday, August 5th. They set an overweight rating and a $42.00 price objective for the company. Zacks Investment Research cut shares of Arvinas from a hold rating to a sell rating in a research report on Thursday, August 22nd. Finally, ValuEngine raised shares of Arvinas from a hold rating to a buy rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Arvinas currently has a consensus rating of Buy and an average target price of $28.33.

ARVN opened at $25.21 on Thursday. Arvinas has a twelve month low of $10.19 and a twelve month high of $28.25. The company has a 50-day simple moving average of $24.66 and a 200 day simple moving average of $21.72. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $879.01 million and a price-to-earnings ratio of -0.99.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.55) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.15). Arvinas had a negative return on equity of 239.20% and a negative net margin of 411.20%. The firm had revenue of $4.02 million for the quarter, compared to the consensus estimate of $4.00 million. Sell-side analysts anticipate that Arvinas will post -2.14 EPS for the current fiscal year.

In other news, major shareholder Ventures Iii L.P. 5Am sold 810,000 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $21.87, for a total value of $17,714,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sean A. Cassidy sold 11,945 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $26.22, for a total transaction of $313,197.90. The disclosure for this sale can be found here. 31.77% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of ARVN. Meeder Asset Management Inc. bought a new position in shares of Arvinas in the second quarter worth about $26,000. Bank of Montreal Can lifted its holdings in shares of Arvinas by 148,100.0% in the second quarter. Bank of Montreal Can now owns 1,482 shares of the company’s stock worth $33,000 after acquiring an additional 1,481 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Arvinas in the fourth quarter worth about $135,000. Virtus ETF Advisers LLC bought a new position in shares of Arvinas in the second quarter worth about $283,000. Finally, Panagora Asset Management Inc. bought a new position in shares of Arvinas in the second quarter worth about $287,000. 46.03% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Arvinas (NASDAQ:ARVN)

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