Arvinas (NASDAQ:ARVN) Price Target Cut to $82.00 by Analysts at Stifel Europe

Arvinas (NASDAQ:ARVN – Get Rating) had its price objective trimmed by Stifel Europe from $85.00 to $82.00 in a research report report published on Thursday morning, The Fly reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Arvinas from $157.00 to $110.00 and set a buy rating for the company in a research note on Tuesday, March 1st. Cantor Fitzgerald reiterated an overweight rating on shares of Arvinas in a research note on Friday, April 1st. Stifel Nicolaus decreased their price target on shares of Arvinas from $93.00 to $85.00 in a research note on Tuesday, April 26th. Wells Fargo & Company initiated coverage on shares of Arvinas in a research note on Thursday, February 10th. They set an overweight rating and a $98.00 price target for the company. Finally, Zacks Investment Research cut shares of Arvinas from a buy rating to a hold rating in a research note on Thursday, March 3rd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Arvinas currently has an average rating of Buy and a consensus price target of $110.39.

Shares of Arvinas stock opened at $49.20 on Thursday. The company has a fifty day simple moving average of $64.57 and a 200-day simple moving average of $72.15. Arvinas has a 12-month low of $47.27 and a 12-month high of $108.46.

Arvinas (NASDAQ:ARVN – Get Rating) last issued its earnings results on Thursday, May 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.29). Arvinas had a negative net margin of 409.29% and a negative return on equity of 27.31%. The company had revenue of $24.20 million during the quarter, compared to analyst estimates of $25.51 million. The business’s revenue for the quarter was up 340.0% on a year-over-year basis. As a group, research analysts expect that Arvinas will post -3.65 earnings per share for the current year.

In other news, insider Ian Taylor sold 20,000 shares of the stock in a transaction dated Tuesday, February 15th. The shares were sold at an average price of $73.02, for a total value of $1,460,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sean A. Cassidy sold 1,593 shares of the stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $63.94, for a total transaction of $101,856.42. The disclosure for this sale can be found here. Insiders sold a total of 64,446 shares of company stock valued at $4,445,577 in the last quarter. Insiders own 6.45% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. grew its stake in Arvinas by 142.7% in the 3rd quarter. Advisor Group Holdings Inc. now owns 415 shares of the company’s stock valued at $34,000 after acquiring an additional 244 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Arvinas in the 3rd quarter valued at about $41,000. First Quadrant L P CA acquired a new stake in Arvinas in the 4th quarter valued at about $47,000. Lindbrook Capital LLC acquired a new stake in Arvinas in the 4th quarter valued at about $57,000. Finally, Nisa Investment Advisors LLC grew its stake in Arvinas by 59.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,714 shares of the company’s stock valued at $194,000 after acquiring an additional 1,014 shares during the last quarter. 84.52% of the stock is currently owned by hedge funds and other institutional investors.

About Arvinas (Get Rating)

Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.

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