Arvinas (NASDAQ:ARVN) Stock Price Target Lowered at HC Wainwright

Arvinas (NASDAQ:ARVN) had its target price cut by equities researchers at HC Wainwright from $18.00 to $13.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright‘s price objective would indicate a potential upside of 87.56% from the company’s previous close.

ARVN has been the subject of a number of other research reports. Citigroup lowered their target price on shares of Arvinas from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Morgan Stanley set a $10.00 price target on shares of Arvinas in a research report on Monday, August 10th. Zacks Research upgraded Arvinas from a “hold” rating to a “strong-buy” rating in a report on Friday, October 9th. Wall Street Zen raised Arvinas from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Wedbush boosted their price objective on Arvinas from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Arvinas currently has an average rating of “Moderate Buy” and an average target price of $15.18.

Arvinas Stock Down 7.8%

Arvinas stock traded down $0.59 during mid-day trading on Tuesday, hitting $6.93. 511,405 shares of the stock were exchanged, compared to its average volume of 821,574. The stock has a market capitalization of $447.19 million, a price-to-earnings ratio of 68.93 and a beta of 1.80. Arvinas has a 12 month low of $6.74 and a 12 month high of $14.51. The firm’s fifty day simple moving average is $8.06 and its two-hundred day simple moving average is $9.68.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.82) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.06. Arvinas had a net margin of 2.94% and a return on equity of 1.91%. The company had revenue of $0.50 million for the quarter, compared to analyst estimates of $16.93 million. During the same period in the prior year, the firm posted ($0.48) EPS. The company’s quarterly revenue was down 98.8% on a year-over-year basis. As a group, analysts forecast that Arvinas will post 0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arvinas

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE bought a new position in shares of Arvinas during the 2nd quarter worth about $2,102,000. Man Group plc acquired a new stake in shares of Arvinas in the 2nd quarter valued at about $2,128,000. GSA Capital Partners LLP bought a new stake in Arvinas in the 2nd quarter valued at about $1,182,000. Squarepoint Ops LLC increased its position in Arvinas by 760.3% in the 2nd quarter. Squarepoint Ops LLC now owns 201,822 shares of the company’s stock valued at $1,677,000 after buying an additional 178,362 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Arvinas during the 2nd quarter worth approximately $1,388,000. 95.19% of the stock is owned by institutional investors.

Arvinas Company Profile

Arvinas, Inc is a clinical-stage biopharmaceutical company focused on developing medicines based on targeted protein degradation. The company’s proprietary PROTAC® protein degrader platform is designed to direct the body’s natural cellular machinery to selectively break down disease-causing proteins that may be difficult to address with conventional drug approaches.

Arvinas has concentrated its research and development efforts primarily on oncology, including hormone-driven cancers. Its pipeline has included vepdegestrant, an estrogen receptor protein degrader being developed for patients with estrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer, as well as other investigational degraders targeting cancer-related proteins.