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

Arvinas (NASDAQ:ARVN) had its target price dropped by research analysts at Morgan Stanley from $48.00 to $12.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 42.35% from the stock’s current price.

ARVN has been the topic of several other reports. Bank of America lowered their target price on shares of Arvinas from $54.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday. Guggenheim lowered their price target on shares of Arvinas from $57.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays lowered 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. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research report on Friday, February 7th. Finally, Wedbush lowered shares of Arvinas from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $57.00 to $12.00 in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Arvinas presently has an average rating of “Moderate Buy” and an average target price of $37.47.

Arvinas Trading Down 1.4 %

Shares of ARVN opened at $8.43 on Thursday. The firm’s 50-day moving average is $17.56 and its two-hundred day moving average is $22.02. Arvinas has a twelve month low of $7.91 and a twelve month high of $45.77. The firm has a market capitalization of $579.75 million, a P/E ratio of -3.04 and a beta of 1.95.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate 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 company earned ($2.53) EPS. Analysts predict that Arvinas will post -3.81 EPS for the current year.

Insiders Place Their Bets

In other news, insider Ian Taylor sold 9,020 shares of the firm’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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John G. Houston sold 31,338 shares of the firm’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 transaction, the chief executive officer now directly owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,572 shares of company stock valued at $695,030 over the last quarter. Company insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Arvinas

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Arvinas by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 7,062,561 shares of the company’s stock valued at $135,389,000 after acquiring an additional 56,561 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Arvinas by 6.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,103,011 shares of the company’s stock valued at $78,656,000 after acquiring an additional 249,295 shares during the period. RTW Investments LP raised its stake in shares of Arvinas by 19.8% in the 4th quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock valued at $63,919,000 after acquiring an additional 551,979 shares during the period. FMR LLC raised its stake in shares of Arvinas by 7.6% in the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock valued at $71,023,000 after acquiring an additional 204,317 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of 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 acquiring an additional 367,343 shares during the period. Hedge funds and other 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.