HC Wainwright Has Lowered Expectations for Arvinas (NASDAQ:ARVN) Stock Price

Key Points

• HC Wainwright has decreased its price target for Arvinas (NASDAQ:ARVN) from $24.00 to $18.00, while maintaining a "buy" rating, suggesting a potential upside of 195.57%.
• Multiple analysts have revised their ratings and price targets for Arvinas, with estimates ranging as low as $9.00 and as high as $19.76, reflecting a consensus average rating of "Moderate Buy."
• Arvinas reported a significant revenue decline of 70.7% year-over-year, with a negative net margin and an earnings per share estimate of -3.81 for the current fiscal year.

Arvinas (NASDAQ:ARVN - Get Free Report) had its price objective lowered by HC Wainwright from $24.00 to $18.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target indicates a potential upside of 195.57% from the company's current price.

A number of other equities analysts have also weighed in on the company. Leerink Partners reiterated a "market perform" rating and set a $9.00 price objective (down previously from $10.00) on shares of Arvinas in a research note on Monday, June 2nd. Morgan Stanley lowered their price objective on Arvinas from $12.00 to $11.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Barclays decreased their target price on shares of Arvinas from $32.00 to $16.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company reduced their target price on Arvinas from $19.00 to $16.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, Piper Sandler reissued an "overweight" rating and set a $14.00 price target (down from $24.00) on shares of Arvinas in a report on Friday, May 2nd. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $19.76.

Arvinas Price Performance

Shares of NASDAQ ARVN traded down $0.34 during trading on Thursday, reaching $6.09. 1,267,435 shares of the stock traded hands, compared to its average volume of 2,182,089. The stock has a market capitalization of $444.52 million, a P/E ratio of -9.27 and a beta of 2.22. Arvinas has a 52-week low of $5.90 and a 52-week high of $29.61. The company has a 50-day moving average of $7.57 and a 200-day moving average of $10.14.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.84) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.03. Arvinas had a negative net margin of 10.92% and a negative return on equity of 7.74%. The business had revenue of $22.40 million during the quarter, compared to analyst estimates of $34.42 million. During the same period last year, the business posted ($0.49) earnings per share. Arvinas's quarterly revenue was down 70.7% compared to the same quarter last year. Analysts expect that Arvinas will post -3.81 earnings per share for the current fiscal year.

Insider Activity at Arvinas

In other news, CFO Andrew Saik sold 5,700 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $7.61, for a total value of $43,377.00. Following the completion of the sale, the chief financial officer owned 164,401 shares of the company's stock, valued at $1,251,091.61. This represents a 3.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Arvinas

A number of hedge funds have recently modified their holdings of the stock. Monaco Asset Management SAM increased its position in shares of Arvinas by 185.6% during the second quarter. Monaco Asset Management SAM now owns 900,936 shares of the company's stock valued at $6,631,000 after purchasing an additional 585,477 shares during the period. Acadian Asset Management LLC raised its position in shares of Arvinas by 791.1% during the second quarter. Acadian Asset Management LLC now owns 1,427,832 shares of the company's stock worth $10,498,000 after purchasing an additional 1,267,593 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in Arvinas in the 2nd quarter valued at $404,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Arvinas during the 2nd quarter worth approximately $634,000. Finally, Los Angeles Capital Management LLC raised its holdings in Arvinas by 41.8% during the second quarter. Los Angeles Capital Management LLC now owns 39,801 shares of the company's stock worth $293,000 after acquiring an additional 11,740 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

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.

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