Guggenheim Has Lowered Expectations for Arvinas (NASDAQ:ARVN) Stock Price

Arvinas (NASDAQ:ARVN) had its target price cut by equities research analysts at Guggenheim from $57.00 to $32.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s target price suggests a potential upside of 279.60% from the stock’s previous close.

A number of other research firms have also recently issued reports on ARVN. Oppenheimer cut shares of Arvinas from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Barclays reduced their target price on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. HC Wainwright reiterated a “buy” rating and issued a $81.00 target price on shares of Arvinas in a research note on Tuesday. BMO Capital Markets set a $20.00 price objective on shares of Arvinas and gave the stock an “outperform” rating in a research note on Wednesday. Finally, The Goldman Sachs Group cut shares of Arvinas from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $70.00 to $15.00 in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.47.

Arvinas Stock Down 1.4 %

NASDAQ ARVN opened at $8.43 on Thursday. The stock has a market capitalization of $579.75 million, a PE ratio of -3.04 and a beta of 1.95. The company has a 50 day moving average price of $17.56 and a two-hundred day moving average price of $22.02. Arvinas has a 12-month low of $7.91 and a 12-month high of $45.77.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) 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 period in the previous year, the firm earned ($2.53) earnings per share. As a group, equities analysts anticipate that Arvinas will post -3.81 EPS for the current year.

Insider Activity at Arvinas

In other Arvinas news, insider Ian Taylor sold 9,020 shares of the business’s stock in a transaction on 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 owns 159,121 shares of the company’s stock, valued at $2,658,911.91. The trade was a 5.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $523,971.36. Following the completion of the sale, the chief executive officer now directly owns 1,157,480 shares in the company, valued at $19,353,065.60. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,572 shares of company stock worth $695,030 in the last ninety days. 5.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Arvinas

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings 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 buying an additional 367,343 shares during the period. Baker BROS. Advisors LP bought a new stake in Arvinas in the 3rd quarter valued at $9,989,000. SG Americas Securities LLC increased its holdings in Arvinas by 228.8% in the 4th quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock valued at $622,000 after buying an additional 22,564 shares during the period. Wasatch Advisors LP increased its holdings in Arvinas by 58.3% in the 3rd quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock valued at $10,737,000 after buying an additional 160,510 shares during the period. Finally, Barclays PLC increased its holdings in Arvinas by 198.9% in the 3rd quarter. Barclays PLC now owns 121,699 shares of the company’s stock valued at $2,998,000 after buying an additional 80,984 shares during the period. Institutional investors own 95.19% of the company’s stock.

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.