Barclays Cuts Arvinas (NASDAQ:ARVN) Price Target to $32.00

Arvinas (NASDAQ:ARVN) had its price target reduced by Barclays from $48.00 to $32.00 in a research note issued to investors on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on ARVN. HC Wainwright restated a “buy” rating and issued a $87.00 target price on shares of Arvinas in a research note on Wednesday, December 11th. BMO Capital Markets reduced their price objective on Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Oppenheimer dropped their target price on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Stephens started coverage on shares of Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 price target for the company. Finally, Guggenheim restated a “buy” rating on shares of Arvinas in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $61.45.

Arvinas Trading Up 8.5 %

NASDAQ ARVN opened at $19.59 on Monday. Arvinas has a 12-month low of $16.61 and a 12-month high of $53.08. The company has a fifty day simple moving average of $19.89 and a two-hundred day simple moving average of $23.70. The stock has a market cap of $1.35 billion, a P/E ratio of -4.19 and a beta of 1.88.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Arvinas by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after acquiring an additional 367,343 shares in the last quarter. Baker BROS. Advisors LP purchased a new position in Arvinas during the third quarter worth approximately $9,989,000. SG Americas Securities LLC grew its holdings in Arvinas by 228.8% in the fourth quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock valued at $622,000 after purchasing an additional 22,564 shares during the period. Wasatch Advisors LP increased its holdings in Arvinas by 58.3% in the 3rd quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock worth $10,737,000 after acquiring an additional 160,510 shares in the last quarter. Finally, Barclays PLC raised its position in Arvinas by 198.9% during the third quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after acquiring an additional 80,984 shares during the period. Hedge funds and other institutional investors own 95.19% of the company’s stock.

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.