HC Wainwright Issues Pessimistic Forecast for Arvinas (NASDAQ:ARVN) Stock Price

Arvinas (NASDAQ:ARVN) had its price target reduced by equities research analysts at HC Wainwright from $81.00 to $24.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 210.88% from the company’s previous close.

Several other research firms have also recently weighed in on ARVN. Truist Financial reduced their price objective on Arvinas from $65.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. TD Cowen lowered shares of Arvinas from a “buy” rating to a “hold” rating in a research report on Friday. Guggenheim lowered their price target on Arvinas from $57.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Citigroup reduced their price objective on Arvinas from $28.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Finally, Bank of America lowered their price objective on Arvinas from $54.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, March 12th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $25.82.

Arvinas Trading Up 6.8 %

NASDAQ ARVN opened at $7.72 on Friday. The company has a market cap of $563.49 million, a P/E ratio of -2.79 and a beta of 2.21. Arvinas has a 1 year low of $5.94 and a 1 year high of $37.38. The company has a fifty day simple moving average of $9.66 and a 200 day simple moving average of $17.44.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.14 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%. During the same period last year, the firm earned ($0.97) EPS. The firm’s quarterly revenue was up 646.2% on a year-over-year basis. Equities research analysts forecast that Arvinas will post -3.81 EPS for the current fiscal year.

Insider Transactions at Arvinas

In other news, insider Noah Berkowitz sold 8,658 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $8.59, for a total transaction of $74,372.22. Following the sale, the insider now owns 110,023 shares in the company, valued at approximately $945,097.57. This represents a 7.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John G. Houston sold 31,338 shares of Arvinas stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.72, for a total value of $523,971.36. Following the completion of the transaction, the chief executive officer now directly owns 1,157,480 shares of the company’s stock, valued at $19,353,065.60. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,230 shares of company stock valued at $769,402. Corporate insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Arvinas

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its holdings in shares of Arvinas by 1.6% in the fourth quarter. Invesco Ltd. now owns 37,254 shares of the company’s stock valued at $714,000 after purchasing an additional 581 shares in the last quarter. Rhumbline Advisers raised its position in shares of Arvinas by 0.9% during the fourth quarter. Rhumbline Advisers now owns 87,877 shares of the company’s stock worth $1,685,000 after acquiring an additional 754 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Arvinas by 0.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 140,518 shares of the company’s stock valued at $2,694,000 after acquiring an additional 777 shares during the period. Bank of Montreal Can boosted its holdings in Arvinas by 2.7% in the fourth quarter. Bank of Montreal Can now owns 39,407 shares of the company’s stock valued at $755,000 after acquiring an additional 1,044 shares during the last quarter. Finally, KBC Group NV increased its position in Arvinas by 77.0% in the fourth quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after purchasing an additional 1,255 shares during the period. Institutional investors and hedge funds own 95.19% of the company’s stock.

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.