Arvinas’ (ARVN) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Arvinas (NASDAQ:ARVN) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $87.00 price target on the stock.

ARVN has been the subject of several other research reports. Oppenheimer cut their price target on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Stephens began coverage on shares of Arvinas in a report on Monday, November 18th. They issued an “overweight” rating and a $55.00 target price for the company. BMO Capital Markets lowered their price target on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Finally, BTIG Research began coverage on shares of Arvinas in a research report on Tuesday. They set a “buy” rating and a $69.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Arvinas has an average rating of “Moderate Buy” and an average target price of $63.50.

Arvinas Stock Down 1.2 %

NASDAQ ARVN opened at $19.50 on Wednesday. The company has a 50-day moving average price of $25.52 and a 200-day moving average price of $26.08. Arvinas has a 52 week low of $18.51 and a 52 week high of $53.08. The firm has a market capitalization of $1.34 billion, a P/E ratio of -4.18 and a beta of 1.82.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.88) by $0.20. The business had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $60.56 million. During the same quarter in the prior year, the business earned ($1.18) EPS. The company’s revenue was up 196.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Arvinas will post -3.22 EPS for the current year.

Institutional Trading of Arvinas

A number of institutional investors and hedge funds have recently bought and sold shares of ARVN. Braidwell LP grew 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 purchasing an additional 767,242 shares in the last quarter. Baker BROS. Advisors LP purchased a new position in Arvinas during the 3rd quarter valued at approximately $9,989,000. FMR LLC increased its stake in Arvinas by 7.6% in the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after acquiring an additional 204,317 shares during the last quarter. Wasatch Advisors LP raised its holdings in shares of Arvinas by 58.3% during 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, Candriam S.C.A. boosted its position in shares of Arvinas by 32.0% during the 2nd quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock valued at $16,250,000 after acquiring an additional 147,904 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors.

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.