Arvinas (NASDAQ:ARVN) Given New $12.00 Price Target at The Goldman Sachs Group

Arvinas (NASDAQ:ARVN) had its price objective cut by analysts at The Goldman Sachs Group from $15.00 to $12.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 41.48% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Barclays cut their price target on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Morgan Stanley decreased their price objective on shares of Arvinas from $48.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. Stifel Nicolaus reduced their target price on shares of Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. Citigroup lowered their price target on shares of Arvinas from $28.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Finally, Oppenheimer cut Arvinas from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.33.

Arvinas Stock Performance

Shares of NASDAQ ARVN traded up $0.83 during trading on Thursday, reaching $8.48. The company had a trading volume of 1,731,753 shares, compared to its average volume of 1,111,246. The business’s 50 day moving average price is $11.88 and its 200-day moving average price is $18.87. The stock has a market cap of $583.32 million, a PE ratio of -3.05 and a beta of 2.30. Arvinas has a 52 week low of $5.94 and a 52 week high of $37.38.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, beating 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) earnings per share. Equities analysts anticipate that Arvinas will post -3.81 earnings per share for the current year.

Insider Activity

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of Arvinas stock in a transaction dated 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 directly owns 110,023 shares of the company’s stock, valued at approximately $945,097.57. The trade was a 7.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ian Taylor sold 9,020 shares of Arvinas stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.71, for a total value of $150,724.20. Following the completion of the transaction, the insider now directly owns 159,121 shares in the company, valued at approximately $2,658,911.91. This represents a 5.36 % 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. Insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Arvinas

Several large investors have recently added to or reduced their stakes in ARVN. GF Fund Management CO. LTD. bought a new position in shares of Arvinas during the 4th quarter worth approximately $28,000. KBC Group NV boosted 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 last quarter. Exchange Traded Concepts LLC grew its stake in Arvinas by 119.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 14,642 shares of the company’s stock valued at $103,000 after purchasing an additional 7,983 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Arvinas during the 4th quarter valued at $171,000. Finally, Tema Etfs LLC bought a new stake in shares of Arvinas during the 4th quarter worth $227,000. Institutional investors own 95.19% of the company’s stock.

About Arvinas

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.