HC Wainwright Issues Pessimistic Forecast for Arvinas (NASDAQ:ARVN) Stock Price

Arvinas (NASDAQ:ARVN) had its target price cut by research analysts at HC Wainwright from $18.00 to $13.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright‘s price objective would indicate a potential upside of 87.56% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Wall Street Zen upgraded Arvinas from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research raised shares of Arvinas from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 9th. Morgan Stanley set a $10.00 target price on shares of Arvinas in a report on Monday, August 10th. Weiss Ratings cut Arvinas from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, October 23rd. Finally, Citigroup cut their price objective on Arvinas from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Arvinas has a consensus rating of “Moderate Buy” and an average price target of $15.18.

Arvinas Price Performance

Shares of ARVN traded down $0.59 during midday trading on Tuesday, hitting $6.93. The stock had a trading volume of 511,405 shares, compared to its average volume of 821,574. The company has a 50 day simple moving average of $8.06 and a two-hundred day simple moving average of $9.68. Arvinas has a twelve month low of $6.74 and a twelve month high of $14.51. The firm has a market cap of $447.19 million, a price-to-earnings ratio of 68.93 and a beta of 1.80.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.82) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.06. The company had revenue of $0.50 million for the quarter, compared to analyst estimates of $16.93 million. Arvinas had a return on equity of 1.91% and a net margin of 2.94%. The company’s quarterly revenue was down 98.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.48) earnings per share. Analysts forecast that Arvinas will post 0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Arvinas

Several large investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Arvinas in the third quarter valued at $26,000. Integrated Wealth Concepts LLC acquired a new position in Arvinas during the 2nd quarter worth about $48,000. Pinnacle Wealth Planning Services Inc. acquired a new position in Arvinas during the 3rd quarter worth about $45,000. Quantbot Technologies LP bought a new stake in shares of Arvinas in the 2nd quarter valued at about $85,000. Finally, Corient Private Wealth LP bought a new stake in shares of Arvinas in the 2nd quarter valued at about $95,000. 95.19% of the stock is currently owned by institutional investors.

Arvinas Company Profile

Arvinas, Inc is a clinical-stage biopharmaceutical company focused on developing medicines based on targeted protein degradation. The company’s proprietary PROTAC® protein degrader platform is designed to direct the body’s natural cellular machinery to selectively break down disease-causing proteins that may be difficult to address with conventional drug approaches.

Arvinas has concentrated its research and development efforts primarily on oncology, including hormone-driven cancers. Its pipeline has included vepdegestrant, an estrogen receptor protein degrader being developed for patients with estrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer, as well as other investigational degraders targeting cancer-related proteins.