The Goldman Sachs Group Has Lowered Expectations for Arvinas (NASDAQ:ARVN) Stock Price

Arvinas (NASDAQ:ARVN) had its price objective decreased by The Goldman Sachs Group from $15.00 to $12.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 39.53% from the company’s current price.

Several other brokerages also recently issued reports on ARVN. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. Oppenheimer lowered Arvinas from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Truist Financial lowered their price objective on Arvinas from $65.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. BMO Capital Markets set a $20.00 target price on shares of Arvinas and gave the stock an “outperform” rating in a report on Wednesday, March 12th. Finally, Citigroup dropped their price target on shares of Arvinas from $28.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.33.

Arvinas Stock Up 12.4 %

Shares of ARVN stock opened at $8.60 on Thursday. Arvinas has a twelve month low of $5.94 and a twelve month high of $37.38. The business has a fifty day simple moving average of $11.49 and a 200 day simple moving average of $18.64. The company has a market cap of $591.44 million, a P/E ratio of -3.10 and a beta of 2.30.

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

Insider Activity at Arvinas

In other news, CEO John G. Houston sold 31,338 shares of Arvinas stock in a transaction on Monday, February 24th. The shares were 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 owns 1,157,480 shares in the company, valued at $19,353,065.60. The trade was a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $150,724.20. Following the transaction, the insider now directly owns 159,121 shares in the company, valued at approximately $2,658,911.91. This 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 50,230 shares of company stock worth $769,402 in the last 90 days. Corporate insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in Arvinas by 23.9% during the 3rd quarter. Wellington Management Group LLP now owns 32,789 shares of the company’s stock worth $808,000 after acquiring an additional 6,330 shares during the last quarter. Barclays PLC grew its position in Arvinas by 198.9% in the 3rd quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after purchasing an additional 80,984 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Arvinas by 11.6% during the 3rd quarter. Franklin Resources Inc. now owns 69,190 shares of the company’s stock worth $1,776,000 after buying an additional 7,166 shares in the last quarter. JPMorgan Chase & Co. boosted 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 worth $57,371,000 after buying an additional 367,343 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Arvinas by 4.1% in the fourth quarter. Nordea Investment Management AB now owns 232,886 shares of the company’s stock valued at $4,404,000 after acquiring an additional 9,196 shares in the last quarter. 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.