Guggenheim Lowers Arvinas (NASDAQ:ARVN) Price Target to $16.00

Arvinas (NASDAQ:ARVN) had its price objective decreased by equities researchers at Guggenheim from $32.00 to $16.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price points to a potential upside of 107.25% from the company’s current price.

Several other research analysts also recently weighed in on the stock. Jefferies Financial Group reissued a “hold” rating and issued a $10.00 target price (down from $52.00) on shares of Arvinas in a research report on Friday. Barclays lowered their price objective on shares of Arvinas from $32.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday. TD Cowen lowered Arvinas from a “buy” rating to a “hold” rating in a report on Friday. The Goldman Sachs Group lowered their price target on Arvinas from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Finally, Wells Fargo & Company set a $26.00 price objective on Arvinas and gave the stock an “overweight” rating in a research note on Wednesday, March 12th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Arvinas has an average rating of “Moderate Buy” and an average target price of $25.82.

Arvinas Price Performance

NASDAQ ARVN opened at $7.72 on Friday. Arvinas has a 12 month low of $5.94 and a 12 month high of $37.38. The company has a market capitalization of $563.49 million, a P/E ratio of -2.79 and a beta of 2.21. The company’s 50 day simple moving average is $9.66 and its 200 day simple moving average is $17.44.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Thursday, May 1st. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.93) by $2.07. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. The firm’s revenue was up 646.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.97) EPS. On average, analysts anticipate that Arvinas will post -3.81 earnings per share for the current year.

Insider Activity at Arvinas

In other Arvinas news, CEO John G. Houston sold 31,338 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the sale, the chief executive officer now owns 1,157,480 shares of the company’s stock, valued at $19,353,065.60. The trade was a 2.64 % 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. Also, insider Ian Taylor sold 9,020 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.71, for a total value of $150,724.20. Following the transaction, the insider now directly owns 159,121 shares in the company, valued at approximately $2,658,911.91. This represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,230 shares of company stock valued at $769,402. Insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Arvinas by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 7,062,561 shares of the company’s stock valued at $135,389,000 after acquiring an additional 56,561 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Arvinas by 6.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,103,011 shares of the company’s stock worth $78,656,000 after purchasing an additional 249,295 shares during the period. RTW Investments LP lifted its position in shares of Arvinas by 19.8% during the 4th quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock worth $63,919,000 after purchasing an additional 551,979 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Arvinas by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after purchasing an additional 367,343 shares during the period. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in Arvinas in the 4th quarter valued at approximately $42,332,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.

About Arvinas

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.