Arvinas (NASDAQ:ARVN) Price Target Cut to $28.00 by Analysts at Bank of America

Arvinas (NASDAQ:ARVN) had its price objective decreased by Bank of America from $54.00 to $28.00 in a research report report published on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Oppenheimer lowered shares of Arvinas from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Wedbush lowered shares of Arvinas from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $57.00 to $12.00 in a research report on Wednesday. BTIG Research initiated coverage on shares of Arvinas in a research report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $81.00 price target on shares of Arvinas in a research report on Tuesday. Finally, Barclays reduced their price target on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arvinas currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.47.

Arvinas Price Performance

ARVN opened at $8.43 on Wednesday. The company’s 50 day simple moving average is $17.56 and its two-hundred day simple moving average is $22.02. Arvinas has a 1-year low of $7.91 and a 1-year high of $45.77. The firm has a market capitalization of $579.75 million, a price-to-earnings ratio of -3.04 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last released its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period last year, the business posted ($2.53) EPS. On average, equities analysts anticipate that Arvinas will post -3.81 earnings per share for the current fiscal year.

Insider Activity at Arvinas

In other Arvinas news, CEO John G. Houston sold 31,338 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the transaction, the chief executive officer now owns 1,157,480 shares in the company, valued at $19,353,065.60. The trade was a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ian Taylor sold 9,020 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.71, for a total transaction of $150,724.20. Following the completion of the transaction, the insider now owns 159,121 shares of the company’s stock, valued at approximately $2,658,911.91. This trade represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,572 shares of company stock worth $695,030. Insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Arvinas by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 7,062,561 shares of the company’s stock worth $135,389,000 after acquiring an additional 56,561 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Arvinas by 6.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,103,011 shares of the company’s stock worth $78,656,000 after acquiring an additional 249,295 shares in the last quarter. RTW Investments LP grew its stake in shares of Arvinas by 19.8% during the fourth quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock worth $63,919,000 after purchasing an additional 551,979 shares in the last quarter. FMR LLC grew its stake in shares of Arvinas by 7.6% during the third quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after purchasing an additional 204,317 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Arvinas by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after purchasing an additional 367,343 shares in the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.

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.