HC Wainwright Cuts Arvinas (NASDAQ:ARVN) Price Target to $24.00

Arvinas (NASDAQ:ARVN - Free Report) had its price objective trimmed by HC Wainwright from $81.00 to $24.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also recently commented on ARVN. Cantor Fitzgerald reiterated an "overweight" rating on shares of Arvinas in a research note on Friday, February 7th. Citigroup dropped their price target on Arvinas from $28.00 to $19.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Jefferies Financial Group reissued a "hold" rating and issued a $10.00 price target (down previously from $52.00) on shares of Arvinas in a research note on Friday. TD Cowen lowered Arvinas from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Wedbush cut 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 research note on Wednesday, March 12th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.09.

Arvinas Trading Down 1.2 %

Shares of ARVN traded down $0.09 during mid-day trading on Friday, hitting $7.63. 3,536,211 shares of the company traded hands, compared to its average volume of 1,260,172. The business has a 50-day moving average of $9.47 and a 200 day moving average of $17.23. Arvinas has a one year low of $5.94 and a one year high of $37.38. The stock has a market capitalization of $556.92 million, a price-to-earnings ratio of -2.75 and a beta of 2.21.

Arvinas (NASDAQ:ARVN - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of ($0.93) by $2.07. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. The firm's revenue for the quarter was up 646.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.97) earnings per share. As a group, analysts anticipate that Arvinas will post -3.81 earnings per share for the current year.

Insiders Place Their Bets

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total transaction of $74,372.22. Following the sale, the insider now directly owns 110,023 shares in the company, valued at $945,097.57. This represents a 7.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ian Taylor sold 9,020 shares of the 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 completion of the transaction, the insider now directly owns 159,121 shares in the company, valued at $2,658,911.91. This trade represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,230 shares of company stock worth $769,402. 5.23% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arvinas

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