Arvinas (NASDAQ:ARVN) Given New $12.00 Price Target at Morgan Stanley

Arvinas (NASDAQ:ARVN) had its target price decreased by analysts at Morgan Stanley from $48.00 to $12.00 in a report released on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 40.11% from the stock’s previous close.

Several other research analysts have also commented on ARVN. BTIG Research began coverage on Arvinas in a research report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $81.00 price objective on shares of Arvinas in a research report on Tuesday. The Goldman Sachs Group cut Arvinas from a “buy” rating to a “neutral” rating and dropped their price target for the company from $70.00 to $15.00 in a research report on Thursday. Stephens assumed coverage on Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 price objective for the company. Finally, Oppenheimer downgraded Arvinas from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.47.

Arvinas Price Performance

Shares of ARVN traded down $0.47 during midday trading on Thursday, reaching $8.57. The stock had a trading volume of 2,917,709 shares, compared to its average volume of 1,628,193. Arvinas has a 1-year low of $7.91 and a 1-year high of $46.23. The company has a market cap of $589.03 million, a price-to-earnings ratio of -3.08 and a beta of 1.95. The company’s fifty day simple moving average is $17.77 and its two-hundred day simple moving average is $22.11.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company earned ($2.53) EPS. On average, sell-side analysts forecast that Arvinas will post -3.81 earnings per share for the current year.

Insider Buying and Selling

In other Arvinas news, insider Ian Taylor sold 9,020 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $16.71, for a total value of $150,724.20. Following the sale, the insider now directly owns 159,121 shares of the company’s stock, valued at approximately $2,658,911.91. This trade represents a 5.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John G. Houston sold 31,338 shares of Arvinas stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,572 shares of company stock worth $695,030. 5.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Arvinas

A number of large investors have recently bought and sold shares of ARVN. Invesco Ltd. grew its stake in shares of Arvinas by 1.6% during the 4th quarter. Invesco Ltd. now owns 37,254 shares of the company’s stock valued at $714,000 after buying an additional 581 shares during the period. Rhumbline Advisers raised its holdings in shares of Arvinas by 0.9% in the 4th quarter. Rhumbline Advisers now owns 87,877 shares of the company’s stock worth $1,685,000 after purchasing an additional 754 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Arvinas by 0.6% in the 4th 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 in the last quarter. Bank of Montreal Can grew its holdings in shares of Arvinas by 2.7% during the 4th quarter. Bank of Montreal Can now owns 39,407 shares of the company’s stock worth $755,000 after purchasing an additional 1,044 shares during the period. Finally, KBC Group NV grew its holdings in shares of Arvinas by 77.0% during the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after purchasing an additional 1,255 shares during the period. Hedge funds and other 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.