Arvinas (NASDAQ:ARVN) Stock Gets Downgrade from Zacks Research

Arvinas (NASDAQ:ARVN) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Monday, Zacks reports.

A number of other analysts also recently issued reports on the stock. Evercore set a $14.00 price target on shares of Arvinas in a report on Monday, August 10th. Wedbush upped their price objective on Arvinas from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. HC Wainwright assumed coverage on Arvinas in a research report on Tuesday, November 3rd. They issued a “buy” rating and a $13.00 price objective for the company. Wells Fargo & Company lowered Arvinas from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $15.00 to $11.00 in a research report on Tuesday, August 4th. Finally, Citigroup cut their target price on Arvinas from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $15.18.

Arvinas Price Performance

Shares of ARVN stock opened at $6.92 on Monday. The firm’s 50-day moving average is $7.77 and its two-hundred day moving average is $9.52. Arvinas has a 12 month low of $6.33 and a 12 month high of $14.51. The company has a market capitalization of $453.16 million, a PE ratio of -28.83 and a beta of 1.81.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, November 3rd. The company reported ($0.82) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.10. Arvinas had a negative net margin of 3.45% and a negative return on equity of 2.00%. The company had revenue of $0.50 million for the quarter, compared to analyst estimates of $12.39 million. During the same period in the previous year, the business posted ($0.48) EPS. Arvinas’s revenue was down 98.8% on a year-over-year basis. Sell-side analysts forecast that Arvinas will post 0.27 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Arvinas during the third quarter valued at about $26,000. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Arvinas in the 3rd quarter worth approximately $45,000. Integrated Wealth Concepts LLC acquired a new position in shares of Arvinas in the 2nd quarter worth approximately $48,000. Quantbot Technologies LP acquired a new position in shares of Arvinas in the 2nd quarter worth approximately $85,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Arvinas by 16.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,930 shares of the company’s stock worth $89,000 after purchasing an additional 1,661 shares during the period. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Company Profile

Arvinas, Inc. is a biotechnology company based in New Haven, Connecticut, that develops medicines using targeted protein degradation. Founded in 2013, the company applies its PROTAC technology to direct disease-related proteins for removal by the body’s natural protein-disposal system. Its research focuses primarily on cancer, including investigational therapies designed to target estrogen and androgen receptors. The company’s programs include vepdegestrant, an estrogen receptor degrader being developed with Pfizer for certain forms of breast cancer, as well as androgen receptor degraders being studied for prostate cancer.