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

Arvinas (NASDAQ:ARVN) had its price objective cut by The Goldman Sachs Group from $15.00 to $12.00 in a report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts also recently commented on the company. Stifel Nicolaus decreased their price target on Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Truist Financial decreased their target price on Arvinas from $65.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Oppenheimer lowered Arvinas from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. BMO Capital Markets set a $20.00 target price on shares of Arvinas and gave the company an “outperform” rating in a research note on Wednesday, March 12th. Finally, Morgan Stanley reduced their price target on shares of Arvinas from $48.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.33.

Arvinas Stock Up 12.4 %

Shares of ARVN opened at $8.60 on Thursday. The firm has a market cap of $591.44 million, a price-to-earnings ratio of -3.10 and a beta of 2.30. The business’s 50 day moving average is $11.67 and its two-hundred day moving average is $18.76. Arvinas has a 52-week low of $5.94 and a 52-week high of $37.38.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (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 previous year, the firm earned ($2.53) EPS. On average, equities analysts expect that Arvinas will post -3.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arvinas news, insider Noah Berkowitz sold 8,658 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $8.59, for a total transaction of $74,372.22. Following the sale, the insider now directly owns 110,023 shares in the company, valued at approximately $945,097.57. The trade was a 7.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John G. Houston sold 31,338 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $16.72, for a total transaction 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. This trade represents a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,230 shares of company stock worth $769,402. 5.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On Arvinas

Institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new stake in shares of Arvinas in the 4th quarter worth $28,000. KBC Group NV grew its holdings in Arvinas by 77.0% during the fourth quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after acquiring an additional 1,255 shares during the period. GAMMA Investing LLC raised its position in Arvinas by 11,283.8% in the first quarter. GAMMA Investing LLC now owns 4,212 shares of the company’s stock worth $300,000 after acquiring an additional 4,175 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Arvinas in the 4th quarter valued at about $171,000. Finally, Tema Etfs LLC bought a new position in shares of Arvinas during the 4th quarter valued at about $227,000. 95.19% of the stock is currently owned by institutional investors and hedge funds.

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.