Arvinas (NASDAQ:ARVN) Price Target Cut to $12.00 by Analysts at Morgan Stanley

Arvinas (NASDAQ:ARVN) had its price objective cut by analysts at Morgan Stanley from $48.00 to $12.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 40.11% from the company’s current price.

ARVN has been the subject of several other reports. Stifel Nicolaus decreased their price target 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. Guggenheim lowered their target price on Arvinas from $57.00 to $32.00 and set a “buy” rating for the company in a report on Thursday. BTIG Research began coverage on Arvinas in a report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research note on Friday, February 7th. Finally, Bank of America cut their target price on Arvinas from $54.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.47.

Arvinas Stock Down 5.1 %

Shares of ARVN traded down $0.47 during trading on Thursday, reaching $8.57. The company’s stock had a trading volume of 2,917,709 shares, compared to its average volume of 1,628,193. The company has a market cap of $589.03 million, a price-to-earnings ratio of -3.08 and a beta of 1.95. The company has a fifty day moving average of $17.77 and a two-hundred day moving average of $22.11. Arvinas has a twelve month low of $7.91 and a twelve month high of $46.23.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.44. Arvinas had a negative return on equity of 33.75% and a negative net margin of 75.51%. During the same period last year, the company earned ($2.53) earnings per share. As a group, equities analysts forecast that Arvinas will post -3.81 EPS for the current fiscal year.

Insider Buying and Selling at Arvinas

In other news, insider Ian Taylor sold 9,020 shares of Arvinas stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.71, for a total value of $150,724.20. Following the transaction, the insider now owns 159,121 shares of the company’s stock, valued at $2,658,911.91. This trade represents a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John G. Houston sold 31,338 shares of Arvinas stock in a transaction that occurred on Monday, February 24th. The stock was 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 directly owns 1,157,480 shares in the company, valued at approximately $19,353,065.60. This represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,572 shares of company stock valued at $695,030. 5.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Arvinas

Several hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in Arvinas by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after buying an additional 367,343 shares in the last quarter. Baker BROS. Advisors LP bought a new stake in Arvinas in the third quarter valued at about $9,989,000. SG Americas Securities LLC increased its stake in Arvinas by 228.8% in the fourth quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock valued at $622,000 after acquiring an additional 22,564 shares during the period. Wasatch Advisors LP raised its position in Arvinas by 58.3% in the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock worth $10,737,000 after purchasing an additional 160,510 shares in the last quarter. Finally, Barclays PLC lifted its stake in Arvinas by 198.9% during the third quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after purchasing an additional 80,984 shares during the period. 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.