Analysts Set Arvinas, Inc. (NASDAQ:ARVN) Price Target at $63.50

Arvinas, Inc. (NASDAQ:ARVN) has received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $63.50.

Several equities research analysts recently weighed in on ARVN shares. Stephens started coverage on Arvinas in a report on Monday, November 18th. They set an “overweight” rating and a $55.00 price target for the company. Oppenheimer reduced their price objective on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. BTIG Research initiated coverage on Arvinas in a report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price target for the company. Finally, BMO Capital Markets dropped 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.

Arvinas Stock Performance

Shares of NASDAQ:ARVN opened at $19.00 on Friday. Arvinas has a one year low of $17.37 and a one year high of $53.08. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of -4.07 and a beta of 1.82. The company has a 50-day simple moving average of $24.03 and a 200-day simple moving average of $25.27.

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

Institutional Trading of Arvinas

Several institutional investors and hedge funds have recently modified their holdings of the business. nVerses Capital LLC acquired a new stake in shares of Arvinas during the third quarter valued at $39,000. Quest Partners LLC purchased a new position in Arvinas in the 2nd quarter valued at about $42,000. Amalgamated Bank boosted its stake in shares of Arvinas by 29.6% during the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after purchasing an additional 508 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Arvinas by 21.5% during the 3rd 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 grew its holdings in shares of Arvinas by 147.3% during the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after buying an additional 2,601 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

About Arvinas

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.