Arvinas (NASDAQ:ARVN) Price Target Cut to $32.00 by Analysts at Barclays

Arvinas (NASDAQ:ARVN) had its price target dropped by investment analysts at Barclays from $48.00 to $32.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 91.16% from the stock’s previous close.

Several other analysts have also commented on the stock. Guggenheim restated a “buy” rating on shares of Arvinas in a research report on Thursday, December 12th. BMO Capital Markets cut their price target on Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Stephens assumed coverage on Arvinas in a report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price target for the company. Oppenheimer dropped their price objective on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, BTIG Research assumed coverage on Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 target price for the company. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.45.

Arvinas Trading Down 4.9 %

Shares of NASDAQ:ARVN opened at $16.74 on Monday. Arvinas has a 12-month low of $17.08 and a 12-month high of $53.08. The business has a 50 day moving average of $20.31 and a two-hundred day moving average of $23.89. The company has a market capitalization of $1.15 billion, a PE ratio of -3.62 and a beta of 1.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in 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 purchasing an additional 367,343 shares during the last quarter. Baker BROS. Advisors LP acquired a new stake in Arvinas during the third quarter worth $9,989,000. 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 valued at $10,737,000 after purchasing an additional 160,510 shares during the period. Barclays PLC lifted its stake in shares of Arvinas by 198.9% in the 3rd quarter. Barclays PLC now owns 121,699 shares of the company’s stock valued at $2,998,000 after purchasing an additional 80,984 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Arvinas by 228.8% during the 4th quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock worth $622,000 after purchasing an additional 22,564 shares during the period. Institutional investors and hedge funds 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.