Arvinas (NASDAQ:ARVN) Earns Outperform Rating from Analysts at Evercore ISI

Equities research analysts at Evercore ISI initiated coverage on shares of Arvinas (NASDAQ:ARVN) in a research note issued on Thursday, April 11th, MarketBeat reports. The brokerage set an “outperform” rating on the stock.

Separately, Zacks Investment Research lowered shares of Arvinas from a “hold” rating to a “sell” rating in a report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $20.33.

Arvinas stock opened at $20.14 on Thursday. The company has a market cap of $662.28 million and a price-to-earnings ratio of -0.79. Arvinas has a 52-week low of $10.19 and a 52-week high of $25.61. The company has a current ratio of 8.52, a quick ratio of 8.52 and a debt-to-equity ratio of 0.01.

Arvinas (NASDAQ:ARVN) last released its earnings results on Tuesday, March 26th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.60) by $0.08. The business had revenue of $3.44 million for the quarter, compared to analyst estimates of $3.38 million. Equities analysts expect that Arvinas will post -2.09 earnings per share for the current fiscal year.

In related news, Director Timothy M. Shannon bought 3,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were purchased at an average cost of $14.69 per share, with a total value of $51,415.00. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ventures Iii L.P. 5Am sold 361,129 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $14.16, for a total transaction of $5,113,586.64. The disclosure for this sale can be found here. Company insiders own 31.77% of the company’s stock.

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. purchased a new position in Arvinas during the 3rd quarter worth $2,234,000. BlackRock Inc. purchased a new stake in shares of Arvinas in the third quarter valued at about $4,399,000. Yale University purchased a new stake in shares of Arvinas in the third quarter valued at about $3,114,000. Citadel Advisors LLC purchased a new stake in shares of Arvinas in the third quarter valued at about $463,000. Finally, Redmile Group LLC purchased a new stake in shares of Arvinas in the third quarter valued at about $2,299,000. 41.05% of the stock is currently owned by institutional investors.

About Arvinas

Arvinas Holding Company, LLC, 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) 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+ breast cancer.

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