Arvinas (NASDAQ:ARVN) Price Target Cut to $68.00 by Analysts at Stifel Nicolaus

Arvinas (NASDAQ:ARVN) had its price target reduced by stock analysts at Stifel Nicolaus from $72.00 to $68.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 101.06% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Citigroup downgraded Arvinas from a “buy” rating to a “neutral” rating and raised their target price for the company from $36.00 to $55.00 in a report on Wednesday, February 14th. Truist Financial reiterated a “buy” rating and issued a $65.00 target price on shares of Arvinas in a research report on Monday, March 25th. Leerink Partnrs restated an “outperform” rating on shares of Arvinas in a research note on Thursday, February 22nd. Barclays increased their price objective on shares of Arvinas from $26.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, The Goldman Sachs Group started coverage on shares of Arvinas in a research note on Thursday, February 1st. They set a “buy” rating and a $70.00 target price on the stock. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arvinas has a consensus rating of “Moderate Buy” and a consensus price target of $61.47.

Arvinas Stock Performance

Shares of NASDAQ ARVN traded down $0.51 during mid-day trading on Wednesday, reaching $33.82. The company had a trading volume of 26,080 shares, compared to its average volume of 715,668. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of -5.20 and a beta of 1.95. The business’s 50-day simple moving average is $39.27 and its 200 day simple moving average is $35.57. Arvinas has a one year low of $13.57 and a one year high of $53.08.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, May 7th. The company reported ($0.97) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.45. The company had revenue of $25.30 million during the quarter, compared to analysts’ expectations of $32.94 million. Arvinas had a negative net margin of 185.09% and a negative return on equity of 70.24%. The business’s revenue for the quarter was down 22.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.54) EPS. On average, sell-side analysts anticipate that Arvinas will post -5.02 EPS for the current year.

Insider Buying and Selling at Arvinas

In other news, CEO John G. Houston sold 5,196 shares of Arvinas stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $47.05, for a total value of $244,471.80. Following the completion of the transaction, the chief executive officer now directly owns 1,036,681 shares of the company’s stock, valued at approximately $48,775,841.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO John G. Houston sold 5,196 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction of $244,471.80. Following the transaction, the chief executive officer now directly owns 1,036,681 shares of the company’s stock, valued at $48,775,841.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ronald Peck sold 1,699 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction of $79,937.95. Following the transaction, the insider now owns 67,516 shares in the company, valued at approximately $3,176,627.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,597 shares of company stock valued at $404,489. 5.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Arvinas

Hedge funds have recently bought and sold shares of the company. RTW Investments LP bought a new position in shares of Arvinas during the fourth quarter valued at about $173,427,000. Price T Rowe Associates Inc. MD increased its stake in Arvinas by 42.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,832,123 shares of the company’s stock valued at $157,731,000 after buying an additional 1,143,452 shares during the last quarter. Commodore Capital LP bought a new position in shares of Arvinas during the 4th quarter worth approximately $41,160,000. Norges Bank purchased a new position in shares of Arvinas in the 4th quarter worth approximately $36,126,000. Finally, Boxer Capital LLC bought a new position in shares of Arvinas in the fourth quarter valued at approximately $25,051,000. 95.19% of the stock is owned by hedge funds and other institutional investors.

About Arvinas

Arvinas, Inc, a clinical-stage biotechnology company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. The company engineers proteolysis targeting chimeras (PROTAC) targeted protein degraders that are designed to harness the body's own natural protein disposal system to degrade and remove disease-causing proteins.