Arvinas (NASDAQ:ARVN) Cut to "Neutral" at Wedbush

Arvinas (NASDAQ:ARVN - Get Free Report) was downgraded by Wedbush from an "outperform" rating to a "neutral" rating in a research note issued to investors on Wednesday,Briefing.com Automated Import reports. They presently have a $12.00 target price on the stock, down from their previous target price of $57.00. Wedbush's price target would suggest a potential upside of 44.58% from the stock's current price.

Several other equities research analysts have also recently issued reports on ARVN. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arvinas in a report on Friday, February 7th. Guggenheim reaffirmed a "buy" rating and issued a $57.00 target price on shares of Arvinas in a report on Wednesday, February 12th. BTIG Research assumed coverage on Arvinas in a report on Tuesday, December 10th. They issued a "buy" rating and a $69.00 target price on the stock. Stephens assumed coverage on Arvinas in a research report on Monday, November 18th. They issued an "overweight" rating and a $55.00 price target for the company. Finally, Stifel Nicolaus dropped their price target on Arvinas from $63.00 to $51.00 and set a "buy" rating for the company in a research report on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.33.

Remove Ads

Arvinas Stock Performance

Shares of Arvinas stock opened at $8.30 on Wednesday. Arvinas has a one year low of $7.91 and a one year high of $46.62. The stock's fifty day moving average is $18.19 and its 200 day moving average is $22.33. The stock has a market cap of $570.81 million, a P/E ratio of -3.00 and a beta of 1.95.

Arvinas (NASDAQ:ARVN - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the firm earned ($2.53) EPS. Analysts predict that Arvinas will post -3.81 EPS for the current year.

Insider Activity at Arvinas

In related news, CEO John G. Houston sold 31,338 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were 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 owns 1,157,480 shares of the company's stock, valued at $19,353,065.60. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ian Taylor sold 9,020 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $16.71, for a total transaction of $150,724.20. Following the completion of the transaction, the insider now directly owns 159,121 shares of the company's stock, valued at $2,658,911.91. This trade represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,572 shares of company stock worth $695,030. Company insiders own 5.23% of the company's stock.

Hedge Funds Weigh In On Arvinas

Large investors have recently bought and sold shares of the business. Invesco Ltd. increased its position in shares of Arvinas by 1.6% during the fourth quarter. Invesco Ltd. now owns 37,254 shares of the company's stock worth $714,000 after purchasing an additional 581 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Arvinas by 0.9% during the fourth quarter. Rhumbline Advisers now owns 87,877 shares of the company's stock valued at $1,685,000 after buying an additional 754 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Arvinas by 0.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 140,518 shares of the company's stock valued at $2,694,000 after purchasing an additional 777 shares during the last quarter. Bank of Montreal Can boosted its holdings in Arvinas by 2.7% in the fourth quarter. Bank of Montreal Can now owns 39,407 shares of the company's stock valued at $755,000 after purchasing an additional 1,044 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Arvinas by 77.0% in the fourth quarter. KBC Group NV now owns 2,885 shares of the company's stock valued at $55,000 after purchasing an additional 1,255 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.