Arvinas (NASDAQ:ARVN) Price Target Cut to $89.00 by Analysts at SVB Leerink

Arvinas (NASDAQ:ARVNGet Rating) had its price objective reduced by SVB Leerink from $91.00 to $89.00 in a research note published on Friday, Marketbeat.com reports. They currently have an outperform rating on the stock.

ARVN has been the topic of several other research reports. Stifel Europe cut their target price on Arvinas from $85.00 to $82.00 and set a buy rating on the stock in a research note on Thursday, May 5th. Stifel Nicolaus decreased their target price on shares of Arvinas from $93.00 to $85.00 in a research report on Tuesday, April 26th. The Goldman Sachs Group lowered their price target on shares of Arvinas from $111.00 to $89.00 and set a buy rating on the stock in a research note on Tuesday, May 24th. Piper Sandler decreased their price objective on Arvinas from $116.00 to $76.00 and set an overweight rating for the company in a report on Monday, May 23rd. Finally, HC Wainwright dropped their target price on Arvinas from $135.00 to $90.00 and set a buy rating on the stock in a report on Friday. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arvinas currently has a consensus rating of Moderate Buy and an average target price of $86.67.

Arvinas Stock Performance

Shares of ARVN stock opened at $55.43 on Friday. Arvinas has a 52 week low of $34.90 and a 52 week high of $103.53. The company’s 50 day moving average price is $46.12 and its two-hundred day moving average price is $56.79.

Arvinas (NASDAQ:ARVNGet Rating) last announced its earnings results on Thursday, August 4th. The company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.28). Arvinas had a negative return on equity of 30.11% and a negative net margin of 255.97%. The company had revenue of $31.30 million during the quarter, compared to analyst estimates of $23.71 million. During the same period in the previous year, the company posted ($1.03) earnings per share. Arvinas’s revenue for the quarter was up 469.1% on a year-over-year basis. On average, analysts predict that Arvinas will post -4.36 earnings per share for the current year.

Institutional Trading of Arvinas

Hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC bought a new position in Arvinas in the 1st quarter valued at about $57,000. Nisa Investment Advisors LLC increased its stake in shares of Arvinas by 59.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,714 shares of the company’s stock worth $194,000 after purchasing an additional 1,014 shares during the period. Nordea Investment Management AB acquired a new stake in Arvinas during the 1st quarter worth approximately $245,000. Versor Investments LP bought a new stake in Arvinas in the 4th quarter valued at $345,000. Finally, Profund Advisors LLC grew its holdings in Arvinas by 7.0% in the 4th quarter. Profund Advisors LLC now owns 4,303 shares of the company’s stock valued at $353,000 after buying an additional 282 shares in the last quarter. Institutional investors and hedge funds own 84.52% of the company’s stock.

About Arvinas

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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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