Arvinas (NASDAQ:ARVN) Price Target Lowered to $12.00 at Morgan Stanley

Arvinas (NASDAQ:ARVN) had its price objective decreased by equities researchers at Morgan Stanley from $48.00 to $12.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 42.35% from the stock’s current price.

Several other research analysts have also weighed in on the stock. BTIG Research assumed coverage on shares of Arvinas in a report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price objective for the company. BMO Capital Markets set a $20.00 price objective on shares of Arvinas and gave the stock an “outperform” rating in a report on Wednesday. HC Wainwright reissued a “buy” rating and set a $81.00 price objective on shares of Arvinas in a report on Tuesday. Bank of America decreased their price objective on shares of Arvinas from $54.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Stephens assumed coverage on shares of Arvinas in a report on Monday, November 18th. They set an “overweight” rating and a $55.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.47.

Arvinas Trading Down 1.4 %

ARVN opened at $8.43 on Thursday. The company has a fifty day simple moving average of $17.56 and a 200 day simple moving average of $22.02. The firm has a market cap of $579.75 million, a price-to-earnings ratio of -3.04 and a beta of 1.95. Arvinas has a twelve month low of $7.91 and a twelve month high of $45.77.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating 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 quarter last year, the business posted ($2.53) earnings per share. On average, analysts forecast that Arvinas will post -3.81 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Arvinas

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Arvinas by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after purchasing an additional 367,343 shares during the last quarter. Baker BROS. Advisors LP bought a new stake in Arvinas in the 3rd quarter valued at about $9,989,000. SG Americas Securities LLC raised its position in shares of Arvinas by 228.8% during the 4th quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock worth $622,000 after buying an additional 22,564 shares in the last quarter. Wasatch Advisors LP raised its position in shares of Arvinas by 58.3% during the 3rd quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock worth $10,737,000 after buying an additional 160,510 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Arvinas by 198.9% during the 3rd quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after buying an additional 80,984 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors.

Arvinas Company Profile

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.