Arvinas (NASDAQ:ARVN) Given New $68.00 Price Target at Stifel Nicolaus

Arvinas (NASDAQ:ARVN - Free Report) had its price objective lowered by Stifel Nicolaus from $72.00 to $68.00 in a research note released on Wednesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other equities analysts have also recently commented on the stock. Truist Financial restated a buy rating and set a $65.00 price target on shares of Arvinas in a report on Monday, March 25th. Wedbush increased their price target on shares of Arvinas from $33.00 to $59.00 and gave the stock an outperform rating in a research report on Wednesday, February 28th. Leerink Partnrs reissued an outperform rating on shares of Arvinas in a report on Thursday, February 22nd. Oppenheimer restated an outperform rating and set a $80.00 target price (down previously from $95.00) on shares of Arvinas in a research report on Wednesday, February 28th. Finally, Barclays raised their target price on Arvinas from $26.00 to $60.00 and gave the stock an overweight rating in a report on Thursday, February 29th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $61.33.

Arvinas Trading Down 5.7 %

ARVN stock traded down $1.96 during mid-day trading on Wednesday, reaching $32.37. 688,337 shares of the stock traded hands, compared to its average volume of 723,142. Arvinas has a 52-week low of $13.57 and a 52-week high of $53.08. The stock's fifty day moving average is $39.27 and its 200-day moving average is $35.57. The company has a market cap of $2.21 billion, a P/E ratio of -5.10 and a beta of 1.95.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.97) EPS for the quarter, beating the consensus estimate of ($1.42) by $0.45. Arvinas had a negative net margin of 185.09% and a negative return on equity of 70.24%. The business had revenue of $25.30 million during the quarter, compared to the consensus estimate of $32.94 million. During the same quarter in the prior year, the firm earned ($1.54) EPS. The firm's quarterly revenue was down 22.2% on a year-over-year basis. Equities research analysts expect that Arvinas will post -5.02 earnings per share for the current year.

Insider Buying and Selling at Arvinas

In other Arvinas news, CEO John G. Houston sold 5,196 shares of the business's stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction of $244,471.80. Following the transaction, the chief executive officer now owns 1,036,681 shares of the company's stock, valued at approximately $48,775,841.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Ronald Peck sold 1,699 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total value of $79,937.95. Following the transaction, the insider now directly owns 67,516 shares of the company's stock, valued at $3,176,627.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John G. Houston sold 5,196 shares of Arvinas stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction of $244,471.80. Following the sale, the chief executive officer now directly owns 1,036,681 shares of the company's stock, valued at approximately $48,775,841.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,597 shares of company stock worth $404,489. Insiders own 5.23% of the company's stock.

Institutional Investors Weigh In On Arvinas

Several hedge funds have recently bought and sold shares of the stock. RTW Investments LP acquired a new stake in Arvinas in the 4th quarter worth about $173,427,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Arvinas by 42.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,832,123 shares of the company's stock valued at $157,731,000 after buying an additional 1,143,452 shares during the period. Commodore Capital LP acquired a new stake in Arvinas during the fourth quarter worth approximately $41,160,000. Norges Bank bought a new position in Arvinas during the 4th quarter worth $36,126,000. Finally, Boxer Capital LLC acquired a new position in Arvinas in the 4th quarter valued at $25,051,000. 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.