Morgan Stanley Cuts Arvinas (NASDAQ:ARVN) Price Target to $12.00

Arvinas (NASDAQ:ARVN) had its price objective cut by Morgan Stanley from $48.00 to $12.00 in a report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other brokerages have also recently issued reports on ARVN. Guggenheim reduced their target price on Arvinas from $57.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday. BTIG Research initiated coverage on Arvinas in a report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research note on Friday, February 7th. HC Wainwright reissued a “buy” rating and set a $81.00 price objective on shares of Arvinas in a research note on Tuesday, March 11th. Finally, Wells Fargo & Company set a $26.00 price objective on Arvinas and gave the stock an “overweight” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Arvinas presently has an average rating of “Moderate Buy” and a consensus target price of $37.47.

Arvinas Stock Down 1.4 %

Shares of Arvinas stock opened at $8.43 on Thursday. The stock’s 50-day simple moving average is $17.32 and its 200-day simple moving average is $21.86. Arvinas has a 52 week low of $7.91 and a 52 week high of $45.77. The company has a market capitalization of $579.75 million, a price-to-earnings ratio of -3.04 and a beta of 1.95.

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

Insider Activity at Arvinas

In other Arvinas news, CEO John G. Houston sold 31,338 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $16.72, for a total transaction of $523,971.36. Following the completion of the sale, the chief executive officer now owns 1,157,480 shares in the company, valued at $19,353,065.60. This represents a 2.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ian Taylor sold 9,020 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 159,121 shares in the company, valued at approximately $2,658,911.91. The trade was a 5.36 % decrease in their ownership of the stock. 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 made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Arvinas by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 7,062,561 shares of the company’s stock valued at $135,389,000 after acquiring an additional 56,561 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Arvinas by 6.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,103,011 shares of the company’s stock valued at $78,656,000 after acquiring an additional 249,295 shares during the period. RTW Investments LP increased its position in shares of Arvinas by 19.8% in the 4th quarter. RTW Investments LP now owns 3,334,308 shares of the company’s stock valued at $63,919,000 after acquiring an additional 551,979 shares during the period. FMR LLC increased its position in shares of Arvinas by 7.6% in the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock valued at $71,023,000 after acquiring an additional 204,317 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Arvinas by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after acquiring an additional 367,343 shares during the period. 95.19% of the stock is 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.