Arvinas, Inc. (NASDAQ:ARVN) Receives $61.08 Average Price Target from Brokerages

Shares of Arvinas, Inc. (NASDAQ:ARVN) have received an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $61.08.

A number of equities analysts have recently commented on ARVN shares. BMO Capital Markets cut their price objective on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. HC Wainwright reaffirmed a “buy” rating and issued a $87.00 price target on shares of Arvinas in a report on Thursday, October 31st. Oppenheimer lowered their price target on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. Finally, Stephens began coverage on Arvinas in a report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price objective on the stock.

Institutional Trading of Arvinas

A number of institutional investors have recently modified their holdings of ARVN. Braidwell LP increased its position in shares of Arvinas by 148.3% during the third quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock valued at $31,637,000 after buying an additional 767,242 shares during the period. Baker BROS. Advisors LP purchased a new position in shares of Arvinas during the third quarter valued at about $9,989,000. FMR LLC increased its position in shares of Arvinas by 7.6% during the third quarter. FMR LLC now owns 2,883,604 shares of the company’s stock valued at $71,023,000 after buying an additional 204,317 shares during the period. Wasatch Advisors LP increased its position in shares of Arvinas by 58.3% during the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock valued at $10,737,000 after buying an additional 160,510 shares during the period. Finally, Candriam S.C.A. increased its position in shares of Arvinas by 32.0% during the second quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock valued at $16,250,000 after buying an additional 147,904 shares during the period. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Arvinas Trading Up 5.0 %

Shares of Arvinas stock opened at $25.39 on Monday. The business has a 50-day moving average price of $25.73 and a two-hundred day moving average price of $26.59. Arvinas has a 1-year low of $21.17 and a 1-year high of $53.08. The company has a market cap of $1.74 billion, a P/E ratio of -5.44 and a beta of 1.82.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($0.88) by $0.20. The firm had revenue of $102.40 million during the quarter, compared to analysts’ expectations of $60.56 million. During the same quarter in the prior year, the company earned ($1.18) EPS. The business’s revenue for the quarter was up 196.0% on a year-over-year basis. Equities research analysts forecast that Arvinas will post -3.24 EPS for the current fiscal year.

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.