Guggenheim Cuts Arvinas (NASDAQ:ARVN) Price Target to $32.00

by · The Cerbat Gem

Arvinas (NASDAQ:ARVN – Free Report) had its price objective decreased by Guggenheim from $57.00 to $32.00 in a research report sent to investors on Thursday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on the company. BMO Capital Markets set a $20.00 price target on Arvinas and gave the company an “outperform” rating in a report on Wednesday. Oppenheimer downgraded Arvinas from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. Wells Fargo & Company set a $26.00 target price on Arvinas and gave the company an “overweight” rating in a report on Wednesday. Barclays lowered their target price on Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, HC Wainwright reissued a “buy” rating and issued a $81.00 target price on shares of Arvinas in a report on Tuesday, March 11th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.47.

Check Out Our Latest Stock Report on ARVN

Arvinas Stock Down 1.4 %

Arvinas stock opened at $8.43 on Thursday. Arvinas has a twelve month low of $7.91 and a twelve month high of $45.77. The company has a market capitalization of $579.75 million, a P/E ratio of -3.04 and a beta of 1.95. The stock’s 50 day moving average is $17.32 and its 200 day moving average is $21.86.

Arvinas (NASDAQ:ARVN – Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period in the prior year, the firm earned ($2.53) EPS. As a group, equities analysts expect that Arvinas will post -3.81 EPS for the current year.

Insider Buying and Selling

In other news, CEO John G. Houston sold 31,338 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $16.72, for a total transaction 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. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ian Taylor sold 9,020 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $16.71, for a total transaction 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. The trade was a 5.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,572 shares of company stock valued at $695,030. 5.23% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in Arvinas by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after acquiring an additional 367,343 shares during the last quarter. Baker BROS. Advisors LP purchased a new stake in shares of Arvinas during the 3rd quarter worth $9,989,000. SG Americas Securities LLC grew its stake in shares of Arvinas by 228.8% during the fourth quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock worth $622,000 after purchasing an additional 22,564 shares in the last quarter. Wasatch Advisors LP increased its holdings in Arvinas by 58.3% in the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock valued at $10,737,000 after buying an additional 160,510 shares during the last quarter. Finally, Barclays PLC raised its stake in Arvinas by 198.9% in the third quarter. Barclays PLC now owns 121,699 shares of the company’s stock valued at $2,998,000 after buying an additional 80,984 shares in the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Company Profile

(Get Free Report)

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.

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