Stifel Nicolaus Cuts Arvinas (NASDAQ:ARVN) Price Target to $51.00

Arvinas (NASDAQ:ARVN) had its price target reduced by Stifel Nicolaus from $63.00 to $51.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently issued reports on the stock. Oppenheimer reduced their price target 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. BMO Capital Markets reduced their price target 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. Wedbush reissued an “outperform” rating and issued a $57.00 price target on shares of Arvinas in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $87.00 price objective on shares of Arvinas in a report on Wednesday, December 11th. Finally, Stephens initiated coverage on shares of Arvinas in a report on Monday, November 18th. They set an “overweight” rating and a $55.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $60.00.

Arvinas Trading Up 3.6 %

NASDAQ ARVN opened at $18.31 on Wednesday. The company has a fifty day simple moving average of $18.88 and a 200 day simple moving average of $23.22. Arvinas has a 12-month low of $16.61 and a 12-month high of $53.08. The company has a market cap of $1.26 billion, a P/E ratio of -3.92 and a beta of 1.88.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.07) by $0.44. During the same quarter last year, the company posted ($2.53) earnings per share. Sell-side analysts predict that Arvinas will post -3.22 EPS for the current year.

Institutional Investors Weigh In On Arvinas

Hedge funds have recently made changes to their positions in the business. nVerses Capital LLC bought a new stake in shares of Arvinas during the 3rd quarter worth $39,000. KBC Group NV raised its stake in shares of Arvinas by 77.0% during the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after purchasing an additional 1,255 shares during the period. Mirae Asset Global Investments Co. Ltd. raised 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 period. Quantbot Technologies LP raised its stake in shares of Arvinas by 147.3% during the 3rd 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. Finally, Exchange Traded Concepts LLC raised its stake in shares of Arvinas by 37.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock worth $164,000 after purchasing an additional 1,798 shares during the period. 95.19% of the stock is currently owned by institutional investors.

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.