Arvinas (NASDAQ:ARVN) PT Lowered to $70.00

Arvinas (NASDAQ:ARVNGet Rating) had its price target reduced by analysts at Barclays from $90.00 to $70.00 in a research note issued on Wednesday, The Fly reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 76.95% from the stock’s previous close.

A number of other research analysts have also recently commented on ARVN. HC Wainwright cut their price target on shares of Arvinas from $135.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 5th. Capital One Financial began coverage on shares of Arvinas in a research note on Tuesday, October 25th. They issued an “overweight” rating for the company. SVB Leerink lowered their price objective on shares of Arvinas from $89.00 to $74.00 and set an “outperform” rating for the company in a research note on Tuesday. Morgan Stanley lowered their price objective on shares of Arvinas from $63.00 to $57.00 and set an “equal weight” rating for the company in a research note on Friday, November 11th. Finally, Credit Suisse Group upped their price objective on shares of Arvinas to $81.00 in a research note on Tuesday, November 15th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Arvinas has a consensus rating of “Moderate Buy” and a consensus price target of $79.19.

Arvinas Trading Down 2.8 %

NASDAQ ARVN opened at $39.56 on Wednesday. The company’s 50-day moving average price is $45.35 and its 200-day moving average price is $45.79. The stock has a market cap of $2.11 billion, a PE ratio of -8.31 and a beta of 1.89. Arvinas has a 12 month low of $34.90 and a 12 month high of $83.40.

Arvinas (NASDAQ:ARVNGet Rating) last posted its quarterly earnings results on Tuesday, November 8th. The company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.26). The company had revenue of $30.30 million during the quarter, compared to the consensus estimate of $44.20 million. Arvinas had a negative return on equity of 36.12% and a negative net margin of 225.34%. As a group, sell-side analysts forecast that Arvinas will post -4.67 earnings per share for the current year.

Institutional Trading of Arvinas

Hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its position in shares of Arvinas by 37.6% during the third quarter. Royal Bank of Canada now owns 1,230 shares of the company’s stock valued at $54,000 after buying an additional 336 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Arvinas in the 2nd quarter valued at approximately $57,000. Lazard Asset Management LLC purchased a new position in shares of Arvinas in the 1st quarter valued at approximately $57,000. Amundi purchased a new position in shares of Arvinas in the 2nd quarter valued at approximately $62,000. Finally, Federated Hermes Inc. raised its position in shares of Arvinas by 80,650.0% in the 2nd quarter. Federated Hermes Inc. now owns 1,615 shares of the company’s stock valued at $68,000 after purchasing an additional 1,613 shares during the last quarter. 91.20% of the stock is owned by hedge funds and other institutional investors.

Arvinas Company Profile

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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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