Arvinas (NASDAQ:ARVN) PT Lowered to $103.00 at Citigroup

Arvinas (NASDAQ:ARVNGet Rating) had its price target reduced by investment analysts at Citigroup to $103.00 in a note issued to investors on Friday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 133.72% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Arvinas from a “buy” rating to a “hold” rating in a research note on Thursday, March 3rd. The Goldman Sachs Group cut their price objective on Arvinas from $157.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, March 1st. Stifel Nicolaus dropped their price objective on shares of Arvinas from $93.00 to $85.00 in a report on Tuesday, April 26th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research report on Friday, April 1st. Finally, SVB Leerink decreased their price objective on Arvinas from $97.00 to $91.00 and set an “outperform” rating for the company in a report on Friday, February 18th. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Arvinas has a consensus rating of “Buy” and a consensus target price of $104.56.

Shares of ARVN opened at $44.07 on Friday. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of -10.57 and a beta of 2.05. Arvinas has a 12-month low of $37.41 and a 12-month high of $108.46. The stock’s 50-day moving average price is $59.89 and its 200 day moving average price is $69.21.

Arvinas (NASDAQ:ARVNGet Rating) last posted its earnings results on Thursday, May 5th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.29). The firm had revenue of $24.20 million during the quarter, compared to the consensus estimate of $25.51 million. Arvinas had a negative return on equity of 29.38% and a negative net margin of 326.72%. The firm’s revenue for the quarter was up 340.0% on a year-over-year basis. On average, equities research analysts expect that Arvinas will post -4.52 earnings per share for the current fiscal year.

In related news, CFO Sean A. Cassidy sold 1,593 shares of the company’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of $63.94, for a total transaction of $101,856.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Briggs Morrison sold 20,960 shares of the firm’s stock in a transaction dated Thursday, April 14th. The shares were sold at an average price of $66.44, for a total value of $1,392,582.40. Following the completion of the sale, the director now directly owns 19,976 shares in the company, valued at $1,327,205.44. The disclosure for this sale can be found here. Insiders have sold a total of 44,446 shares of company stock worth $2,985,177 in the last quarter. 6.45% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of ARVN. Morgan Stanley raised its position in Arvinas by 208.5% during the 2nd quarter. Morgan Stanley now owns 753,343 shares of the company’s stock worth $58,008,000 after purchasing an additional 509,173 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in Arvinas by 142.7% during 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 in the last quarter. Mackenzie Financial Corp bought a new position in shares of Arvinas during the third quarter valued at about $210,000. Principal Financial Group Inc. grew its holdings in shares of Arvinas by 2.8% in the third quarter. Principal Financial Group Inc. now owns 83,256 shares of the company’s stock valued at $6,842,000 after acquiring an additional 2,300 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Arvinas by 5.3% in the 3rd quarter. BlackRock Inc. now owns 3,275,456 shares of the company’s stock valued at $269,178,000 after purchasing an additional 165,086 shares during the period. Institutional investors own 84.52% of the company’s stock.

Arvinas Company Profile (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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