Arvinas (NASDAQ:ARVN) Price Target Cut to $11.00 by Analysts at Morgan Stanley

Arvinas (NASDAQ:ARVN) had its price target dropped by research analysts at Morgan Stanley from $12.00 to $11.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 66.41% from the company’s previous close.

Several other research firms also recently weighed in on ARVN. BMO Capital Markets decreased their target price on Arvinas from $20.00 to $10.00 and set an “outperform” rating on the stock in a research report on Monday, May 5th. Citigroup lowered their price target on shares of Arvinas from $10.00 to $9.50 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Guggenheim lowered their target price on Arvinas from $32.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. TD Cowen downgraded Arvinas from a “buy” rating to a “hold” rating in a research report on Friday, May 2nd. Finally, Wedbush lowered Arvinas from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $57.00 to $12.00 in a report on Wednesday, March 12th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.91.

Arvinas Trading Down 2.9 %

Arvinas stock opened at $6.61 on Friday. The stock’s 50 day simple moving average is $8.65 and its two-hundred day simple moving average is $16.75. Arvinas has a 12 month low of $5.94 and a 12 month high of $37.38. The firm has a market cap of $482.47 million, a PE ratio of -2.39 and a beta of 2.21.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Thursday, May 1st. The company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $2.07. 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 business posted ($0.97) earnings per share. The firm’s revenue was up 646.2% on a year-over-year basis. On average, equities research analysts forecast that Arvinas will post -3.81 EPS for the current year.

Insider Activity at Arvinas

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total value of $74,372.22. Following the completion of the sale, the insider now owns 110,023 shares in the company, valued at approximately $945,097.57. The trade was a 7.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John G. Houston sold 31,338 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,230 shares of company stock valued at $769,402 in the last ninety days. Insiders own 5.23% of the company’s stock.

Institutional Trading of Arvinas

A number of large investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. acquired a new stake in shares of Arvinas during the fourth quarter worth about $28,000. KBC Group NV grew its position in Arvinas by 77.0% in the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock valued at $55,000 after buying an additional 1,255 shares during the last quarter. GAMMA Investing LLC raised its position in Arvinas by 11,283.8% during the 1st quarter. GAMMA Investing LLC now owns 4,212 shares of the company’s stock worth $300,000 after buying an additional 4,175 shares during the last quarter. CWM LLC boosted its holdings in shares of Arvinas by 2,317.5% in the first quarter. CWM LLC now owns 7,615 shares of the company’s stock valued at $53,000 after acquiring an additional 7,300 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Arvinas during the fourth quarter worth about $171,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

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.