Arvinas (NASDAQ:ARVN) Cut to “Hold” at Zacks Research

Arvinas (NASDAQ:ARVN) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Zacks reports.

A number of other analysts have also issued reports on ARVN. Citigroup dropped their target price on Arvinas from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Wall Street Zen raised shares of Arvinas from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Evercore set a $14.00 price objective on shares of Arvinas in a research note on Monday, August 10th. Wells Fargo & Company lowered shares of Arvinas from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $15.00 to $11.00 in a report on Tuesday, August 4th. Finally, Weiss Ratings downgraded shares of Arvinas from a “sell (d)” rating to a “sell (e+)” rating in a research report on Wednesday, November 4th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Arvinas currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.18.

Arvinas Trading Up 2.4%

NASDAQ ARVN opened at $6.92 on Monday. The company’s fifty day simple moving average is $7.77 and its 200-day simple moving average is $9.52. Arvinas has a 52 week low of $6.33 and a 52 week high of $14.51. The stock has a market cap of $453.16 million, a P/E ratio of -28.83 and a beta of 1.81.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.82) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.10. The business had revenue of $0.50 million during the quarter, compared to analyst estimates of $12.39 million. Arvinas had a negative net margin of 3.45% and a negative return on equity of 2.00%. The business’s revenue was down 98.8% on a year-over-year basis. During the same period last year, the business earned ($0.48) EPS. On average, research analysts expect that Arvinas will post 0.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Arvinas

A number of institutional investors have recently modified their holdings of ARVN. BlackRock Inc. acquired a new stake in Arvinas during the second quarter worth about $63,232,000. Nantahala Capital Management LLC acquired a new position in Arvinas in the second quarter valued at approximately $2,493,000. Man Group plc bought a new position in shares of Arvinas during the second quarter valued at approximately $2,128,000. Bank of New York Mellon Corp bought a new position in shares of Arvinas during the second quarter valued at approximately $2,119,000. Finally, Bank of America Corp DE bought a new position in shares of Arvinas during the second quarter valued at approximately $2,102,000. Institutional investors own 95.19% of the company’s stock.

Arvinas Company Profile

Arvinas, Inc. is a biotechnology company based in New Haven, Connecticut, that develops medicines using targeted protein degradation. Founded in 2013, the company applies its PROTAC technology to direct disease-related proteins for removal by the body’s natural protein-disposal system. Its research focuses primarily on cancer, including investigational therapies designed to target estrogen and androgen receptors. The company’s programs include vepdegestrant, an estrogen receptor degrader being developed with Pfizer for certain forms of breast cancer, as well as androgen receptor degraders being studied for prostate cancer.