Brokerages Set Arvinas, Inc. (NASDAQ:ARVN) PT at $56.92

Arvinas, Inc. (NASDAQ:ARVN) has earned a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $56.92.

Several equities research analysts have weighed in on ARVN shares. Barclays cut their price target on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Oppenheimer reduced their price target on 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 reaffirmed an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Wedbush reiterated an “outperform” rating and issued a $57.00 target price on shares of Arvinas in a research note on Tuesday, July 30th. Finally, HC Wainwright restated a “buy” rating and set a $87.00 price target on shares of Arvinas in a research report on Thursday, October 31st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ARVN. nVerses Capital LLC purchased a new position in Arvinas in the third quarter valued at $39,000. Quest Partners LLC acquired a new position in shares of Arvinas during the second quarter worth about $42,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Arvinas during the first quarter worth about $44,000. Amalgamated Bank increased its stake in shares of Arvinas by 29.6% during the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after buying an additional 508 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Arvinas by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after acquiring an additional 440 shares during the last quarter. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

Arvinas Price Performance

Arvinas stock opened at $27.14 on Thursday. Arvinas has a 1-year low of $14.02 and a 1-year high of $53.08. The business has a fifty day moving average price of $25.76 and a 200-day moving average price of $27.51. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of -5.81 and a beta of 1.96.

Arvinas (NASDAQ:ARVN) last released its 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 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 firm posted ($1.18) EPS. The firm’s revenue for the quarter was up 196.0% on a year-over-year basis. On average, equities research analysts anticipate that Arvinas will post -3.32 earnings per share for the current fiscal year.

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.