Arvinas (NASDAQ:ARVN) Rating Lowered to Neutral at The Goldman Sachs Group

Arvinas (NASDAQ:ARVN) was downgraded by stock analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a research report issued on Thursday, MarketBeat.com reports. They currently have a $15.00 price objective on the stock, down from their prior price objective of $70.00. The Goldman Sachs Group’s target price suggests a potential upside of 77.94% from the stock’s current price.

A number of other brokerages have also recently issued reports on ARVN. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Friday, February 7th. Oppenheimer cut Arvinas from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Bank of America dropped their price objective on Arvinas from $54.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday. Citigroup dropped their price target on Arvinas from $28.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Finally, BMO Capital Markets set a $20.00 price target on Arvinas and gave the company an “outperform” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.47.

Arvinas Stock Down 1.4 %

Shares of Arvinas stock opened at $8.43 on Thursday. Arvinas has a 12-month low of $7.91 and a 12-month high of $45.77. The stock has a market cap of $579.75 million, a P/E ratio of -3.04 and a beta of 1.95. The business’s 50 day moving average is $17.56 and its 200-day moving average is $22.02.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) 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 quarter in the previous year, the company posted ($2.53) EPS. On average, sell-side analysts expect that Arvinas will post -3.81 EPS for the current year.

Insiders Place Their Bets

In other news, CEO John G. Houston sold 31,338 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.72, for a total transaction of $523,971.36. Following 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ian Taylor sold 9,020 shares of the stock in a transaction on Monday, February 24th. The stock was 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 approximately $2,658,911.91. This trade represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,572 shares of company stock worth $695,030 in the last 90 days. Company insiders own 5.23% of the company’s stock.

Institutional Trading of Arvinas

Several institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. lifted its position in shares of Arvinas by 1.6% during the 4th quarter. Invesco Ltd. now owns 37,254 shares of the company’s stock worth $714,000 after buying an additional 581 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Arvinas by 0.9% during the 4th quarter. Rhumbline Advisers now owns 87,877 shares of the company’s stock worth $1,685,000 after buying an additional 754 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Arvinas by 0.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 140,518 shares of the company’s stock worth $2,694,000 after buying an additional 777 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Arvinas by 2.7% during the 4th quarter. Bank of Montreal Can now owns 39,407 shares of the company’s stock worth $755,000 after buying an additional 1,044 shares during the last quarter. Finally, KBC Group NV lifted its position 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 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.