HC Wainwright Cuts Arvinas (NASDAQ:ARVN) Price Target to $24.00

Arvinas (NASDAQ:ARVN) had its price objective cut by research analysts at HC Wainwright from $81.00 to $24.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 210.88% from the company’s previous close.

A number of other analysts have also recently commented on ARVN. TD Cowen cut shares of Arvinas from a “buy” rating to a “hold” rating in a research report on Friday. Bank of America dropped their price target on Arvinas from $54.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Guggenheim decreased their price objective on Arvinas from $57.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. BMO Capital Markets set a $20.00 target price on Arvinas and gave the stock an “outperform” rating in a research note on Wednesday, March 12th. Finally, Citigroup cut their price target on shares of Arvinas from $28.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Arvinas presently has an average rating of “Moderate Buy” and a consensus price target of $25.82.

Arvinas Stock Up 6.8 %

Shares of Arvinas stock opened at $7.72 on Friday. Arvinas has a 12 month low of $5.94 and a 12 month high of $37.38. The business has a fifty day simple moving average of $9.66 and a 200 day simple moving average of $17.44. The stock has a market cap of $563.49 million, a PE ratio of -2.79 and a beta of 2.21.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.93) by $2.07. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same period in the previous year, the firm posted ($0.97) earnings per share. The company’s revenue for the quarter was up 646.2% on a year-over-year basis. Analysts expect that Arvinas will post -3.81 EPS for the current fiscal year.

Insider Activity

In related news, insider Ian Taylor sold 9,020 shares of the firm’s 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 completion of the sale, the insider now directly owns 159,121 shares in the company, valued at approximately $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 accessible through the SEC website. Also, CEO John G. Houston sold 31,338 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the transaction, the chief executive officer now directly owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,230 shares of company stock valued at $769,402. 5.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new stake in Arvinas during the 4th quarter valued at $28,000. CWM LLC lifted its stake in shares of Arvinas by 2,317.5% during the 1st quarter. CWM LLC now owns 7,615 shares of the company’s stock worth $53,000 after buying an additional 7,300 shares during the last quarter. KBC Group NV boosted its holdings in shares of Arvinas by 77.0% during the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after buying an additional 1,255 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Arvinas in the 1st quarter valued at about $80,000. Finally, Exchange Traded Concepts LLC raised its holdings in Arvinas by 119.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 14,642 shares of the company’s stock valued at $103,000 after acquiring an additional 7,983 shares during the period. 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.