Bank of America Lowers Arvinas (NASDAQ:ARVN) Price Target to $28.00

Arvinas (NASDAQ:ARVN) had its target price decreased by research analysts at Bank of America from $54.00 to $28.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 227.49% from the stock’s previous close.

Several other research firms have also issued reports on ARVN. HC Wainwright reissued a “buy” rating and set a $81.00 price target on shares of Arvinas in a research report on Tuesday. Guggenheim reaffirmed a “buy” rating and issued a $57.00 target price on shares of Arvinas in a research report on Wednesday, February 12th. Wedbush lowered Arvinas from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $57.00 to $12.00 in a research report on Wednesday. Stifel Nicolaus decreased their price target on Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $82.00 price target (down previously from $88.00) on shares of Arvinas in a research note on Wednesday, February 12th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.47.

Arvinas Stock Down 5.3 %

NASDAQ ARVN opened at $8.55 on Wednesday. The stock has a market cap of $588.00 million, a PE ratio of -3.09 and a beta of 1.95. Arvinas has a fifty-two week low of $7.91 and a fifty-two week high of $46.23. The business has a 50 day moving average price of $17.77 and a two-hundred day moving average price of $22.11.

Arvinas (NASDAQ:ARVN) last released its quarterly 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 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 ($2.53) earnings per share. Sell-side analysts anticipate 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 stock in a transaction dated Monday, February 24th. The stock was 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 of the company’s stock, valued at approximately $2,658,911.91. This represents a 5.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John G. Houston sold 31,338 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the sale, the chief executive officer now directly owns 1,157,480 shares of the company’s stock, 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. Insiders sold a total of 41,572 shares of company stock valued at $695,030 over the last three months. Insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Hedge funds and other institutional investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new stake in shares of Arvinas during the 4th quarter worth about $28,000. KBC Group NV raised its stake 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 purchasing an additional 1,255 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Arvinas by 147.3% during the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after purchasing an additional 2,601 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Arvinas during the 4th quarter worth about $171,000. Finally, Tema Etfs LLC purchased a new stake in shares of Arvinas during the 4th quarter worth about $227,000. 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.