Arvinas (NASDAQ:ARVN) Earns Overweight Rating from Analysts at Stephens

Stephens began coverage on shares of Arvinas (NASDAQ:ARVN) in a report released on Monday, MarketBeat.com reports. The firm issued an overweight rating and a $55.00 price target on the stock.

A number of other research firms have also issued reports on ARVN. HC Wainwright reiterated a “buy” rating and set a $87.00 price objective on shares of Arvinas in a research note on Thursday, October 31st. Oppenheimer dropped their target price on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Wedbush reissued an “outperform” rating and issued a $57.00 target price on shares of Arvinas in a research report on Tuesday, July 30th. Finally, Barclays lowered their price objective on Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.08.

Arvinas Stock Performance

Shares of ARVN stock opened at $22.69 on Monday. The company has a market cap of $1.56 billion, a P/E ratio of -4.86 and a beta of 1.96. The stock has a 50 day simple moving average of $25.62 and a two-hundred day simple moving average of $27.06. Arvinas has a fifty-two week low of $20.28 and a fifty-two week high of $53.08.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating 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. During the same period last year, the business posted ($1.18) EPS. The company’s revenue was up 196.0% on a year-over-year basis. On average, research analysts predict that Arvinas will post -3.32 earnings per share for the current year.

Institutional Investors Weigh In On Arvinas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its position 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 valued at $61,000 after acquiring an additional 440 shares during the period. American International Group Inc. grew its position in shares of Arvinas by 1.8% during the 1st quarter. American International Group Inc. now owns 24,857 shares of the company’s stock valued at $1,026,000 after acquiring an additional 449 shares during the period. Amalgamated Bank lifted its stake in Arvinas by 29.6% in the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after buying an additional 508 shares in the last quarter. Edgestream Partners L.P. lifted its stake in Arvinas by 16.3% in the 2nd quarter. Edgestream Partners L.P. now owns 9,311 shares of the company’s stock valued at $248,000 after buying an additional 1,305 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Arvinas in the 2nd quarter valued at about $42,000. 95.19% of the stock is 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.