Arvinas, Inc. (NASDAQ:ARVN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Arvinas, Inc. (NASDAQ:ARVN) have been given an average rating of “Moderate Buy” by the sixteen research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $57.50.

Several equities analysts recently weighed in on ARVN shares. Barclays decreased their target price on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. HC Wainwright reissued a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research report on Thursday, August 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Oppenheimer reduced their price target on Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, Wedbush restated an “outperform” rating and issued a $57.00 price objective on shares of Arvinas in a research note on Tuesday, July 30th.

Arvinas Trading Up 0.7 %

Shares of ARVN stock opened at $25.32 on Wednesday. The firm’s fifty day moving average price is $26.49 and its two-hundred day moving average price is $31.47. Arvinas has a 1 year low of $13.57 and a 1 year high of $53.08. The firm has a market capitalization of $1.73 billion, a P/E ratio of -4.27 and a beta of 1.97.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Tuesday, July 30th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($1.08) by $0.59. The company had revenue of $76.50 million for the quarter, compared to analyst estimates of $33.27 million. The business’s revenue for the quarter was up 40.4% on a year-over-year basis. During the same period last year, the company posted ($1.25) earnings per share. As a group, equities research analysts forecast that Arvinas will post -3.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Arvinas

Several institutional investors and hedge funds have recently modified their holdings of ARVN. Squarepoint Ops LLC grew its position in shares of Arvinas by 45.2% during the 2nd quarter. Squarepoint Ops LLC now owns 118,899 shares of the company’s stock worth $3,165,000 after purchasing an additional 37,028 shares in the last quarter. Marshall Wace LLP acquired a new stake in Arvinas during the second quarter worth approximately $538,000. Magnetar Financial LLC grew its position in Arvinas by 112.7% during the second quarter. Magnetar Financial LLC now owns 41,992 shares of the company’s stock worth $1,118,000 after buying an additional 22,245 shares in the last quarter. Profund Advisors LLC increased its stake in Arvinas by 47.6% during the 2nd quarter. Profund Advisors LLC now owns 15,954 shares of the company’s stock worth $425,000 after acquiring an additional 5,145 shares during the period. Finally, Sei Investments Co. raised its holdings in Arvinas by 8.5% in the 2nd quarter. Sei Investments Co. now owns 26,594 shares of the company’s stock valued at $708,000 after acquiring an additional 2,093 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

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.