The Goldman Sachs Group Lowers Arvinas (NASDAQ:ARVN) Price Target to $8.00

Arvinas (NASDAQ:ARVN) had its price objective reduced by investment analysts at The Goldman Sachs Group from $12.00 to $8.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 3.63% from the stock’s current price.

Several other analysts also recently weighed in on the company. Jefferies Financial Group restated a “hold” rating and set a $10.00 target price (down previously from $52.00) on shares of Arvinas in a research note on Friday. Bank of America cut their target price on shares of Arvinas from $54.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, March 12th. Piper Sandler restated an “overweight” rating and set a $14.00 price objective (down previously from $24.00) on shares of Arvinas in a report on Friday. Guggenheim reduced their target price on shares of Arvinas from $32.00 to $16.00 and set a “buy” rating for the company in a research note on Friday. Finally, Truist Financial cut their price target on Arvinas from $65.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arvinas presently has a consensus rating of “Moderate Buy” and an average price target of $25.82.

Arvinas Stock Performance

ARVN opened at $7.72 on Friday. Arvinas has a twelve month low of $5.94 and a twelve month high of $37.38. The business has a 50 day moving average price of $9.66 and a 200 day moving average price of $17.44. The firm has a market cap of $563.49 million, a P/E ratio of -2.79 and a beta of 2.21.

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

Insider Transactions at Arvinas

In other news, insider Noah Berkowitz sold 8,658 shares of the company’s 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 transaction, the insider now owns 110,023 shares of the company’s stock, valued at $945,097.57. This represents a 7.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John G. Houston sold 31,338 shares of the firm’s 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 owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. This represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,230 shares of company stock worth $769,402. Corporate insiders own 5.23% of the company’s stock.

Institutional Trading of Arvinas

Several institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its stake in Arvinas by 60.2% in the first quarter. Victory Capital Management Inc. now owns 72,810 shares of the company’s stock valued at $511,000 after buying an additional 27,360 shares during the period. CWM LLC raised its holdings in Arvinas by 2,317.5% in the first quarter. CWM LLC now owns 7,615 shares of the company’s stock worth $53,000 after purchasing an additional 7,300 shares during the period. New York State Common Retirement Fund boosted its position in shares of Arvinas by 19.0% during the first quarter. New York State Common Retirement Fund now owns 24,313 shares of the company’s stock worth $171,000 after purchasing an additional 3,888 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Arvinas in the 1st quarter valued at $80,000. Finally, Exchange Traded Concepts LLC lifted its holdings in Arvinas by 119.9% during the first quarter. Exchange Traded Concepts LLC now owns 14,642 shares of the company’s stock worth $103,000 after acquiring an additional 7,983 shares in the last quarter. Institutional investors 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.