Arvinas (NASDAQ:ARVN) Price Target Cut to $60.00 by Analysts at Wells Fargo & Company

Arvinas (NASDAQ:ARVN) had its target price decreased by equities researchers at Wells Fargo & Company from $63.00 to $60.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 82.32% from the company’s current price.

ARVN has been the subject of a number of other reports. Barclays increased their price target on Arvinas from $26.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Leerink Partnrs restated an “outperform” rating on shares of Arvinas in a report on Thursday, February 22nd. Stifel Nicolaus lowered their price target on shares of Arvinas from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research report on Wednesday. Finally, Citigroup downgraded Arvinas from a “buy” rating to a “neutral” rating and raised their target price for the stock from $36.00 to $55.00 in a research note on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $61.13.

Arvinas Stock Performance

NASDAQ:ARVN traded up $0.54 during mid-day trading on Thursday, hitting $32.91. 96,201 shares of the stock were exchanged, compared to its average volume of 716,112. The firm’s 50-day simple moving average is $39.00 and its 200 day simple moving average is $35.55. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -5.03 and a beta of 1.95. Arvinas has a fifty-two week low of $13.57 and a fifty-two week high of $53.08.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.97) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.45. Arvinas had a negative net margin of 185.09% and a negative return on equity of 70.24%. The firm had revenue of $25.30 million during the quarter, compared to the consensus estimate of $32.94 million. During the same quarter in the previous year, the firm posted ($1.54) EPS. The business’s revenue for the quarter was down 22.2% compared to the same quarter last year. On average, analysts predict that Arvinas will post -5.02 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Sean A. Cassidy sold 1,702 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $47.05, for a total transaction of $80,079.10. Following the completion of the sale, the chief financial officer now directly owns 181,916 shares in the company, valued at $8,559,147.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Arvinas news, CEO John G. Houston sold 5,196 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $47.05, for a total value of $244,471.80. Following the completion of the transaction, the chief executive officer now owns 1,036,681 shares in the company, valued at $48,775,841.05. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sean A. Cassidy sold 1,702 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $47.05, for a total transaction of $80,079.10. Following the completion of the sale, the chief financial officer now directly owns 181,916 shares in the company, valued at $8,559,147.80. The disclosure for this sale can be found here. Insiders have sold a total of 8,597 shares of company stock valued at $404,489 over the last three months. 5.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arvinas

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its position in shares of Arvinas by 10.6% in the 3rd quarter. FMR LLC now owns 4,868,295 shares of the company’s stock worth $95,613,000 after purchasing an additional 466,667 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Arvinas by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 4,851,390 shares of the company’s stock worth $199,683,000 after acquiring an additional 243,167 shares in the last quarter. RTW Investments LP bought a new stake in Arvinas in the fourth quarter worth $173,427,000. Price T Rowe Associates Inc. MD grew its stake in shares of Arvinas by 42.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,832,123 shares of the company’s stock worth $157,731,000 after acquiring an additional 1,143,452 shares during the last quarter. Finally, Avidity Partners Management LP increased its holdings in shares of Arvinas by 14.2% during the fourth quarter. Avidity Partners Management LP now owns 2,985,117 shares of the company’s stock valued at $122,867,000 after acquiring an additional 370,157 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Company Profile

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.