Guggenheim Reaffirms “Buy” Rating for Arvinas (NASDAQ:ARVN)

Arvinas (NASDAQ:ARVN)‘s stock had its “buy” rating reiterated by stock analysts at Guggenheim in a research report issued on Thursday,Benzinga reports.

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

Arvinas Trading Down 1.2 %

ARVN stock opened at $19.50 on Thursday. Arvinas has a 52 week low of $18.51 and a 52 week high of $53.08. The company has a market cap of $1.34 billion, a P/E ratio of -4.18 and a beta of 1.82. The company’s 50-day moving average price is $25.52 and its 200 day moving average price is $26.08.

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

Institutional Investors Weigh In On Arvinas

A number of institutional investors have recently modified their holdings of ARVN. nVerses Capital LLC bought a new stake in Arvinas in the third quarter valued at about $39,000. Quest Partners LLC acquired a new stake in shares of Arvinas during the 2nd quarter valued at approximately $42,000. Amalgamated Bank raised its position in shares of Arvinas by 29.6% during the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after acquiring an additional 508 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Arvinas by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after purchasing an additional 440 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in Arvinas by 147.3% in the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after purchasing an additional 2,601 shares during the period. Institutional investors and hedge funds 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.