BMO Capital Markets Cuts Arvinas (NASDAQ:ARVN) Price Target to $88.00

Arvinas (NASDAQ:ARVN) had its price target cut by BMO Capital Markets from $90.00 to $88.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

ARVN has been the topic of several other research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. HC Wainwright reaffirmed a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research note on Thursday, October 31st. Oppenheimer reduced their target price on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Wedbush reiterated an “outperform” rating and issued a $57.00 price target on shares of Arvinas in a report on Tuesday, July 30th. Finally, Stephens initiated coverage on Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Arvinas currently has an average rating of “Moderate Buy” and a consensus target price of $61.08.

Arvinas Trading Up 3.0 %

Shares of ARVN stock opened at $25.86 on Wednesday. The company has a market capitalization of $1.78 billion, a P/E ratio of -5.48 and a beta of 1.96. Arvinas has a 12 month low of $21.17 and a 12 month high of $53.08. The stock has a 50 day moving average of $25.63 and a two-hundred day moving average of $27.05.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.20. The business had revenue of $102.40 million for the quarter, compared to the consensus estimate of $60.56 million. Arvinas’s revenue was up 196.0% on a year-over-year basis. During the same period in the previous year, the business posted ($1.18) earnings per share. Sell-side analysts predict that Arvinas will post -3.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Arvinas by 29.9% during the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock worth $260,046,000 after purchasing an additional 1,448,166 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Arvinas by 14.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company’s stock valued at $180,329,000 after acquiring an additional 536,295 shares during the last quarter. FMR LLC raised its position in Arvinas by 7.6% during the third quarter. FMR LLC now owns 2,883,604 shares of the company’s stock valued at $71,023,000 after purchasing an additional 204,317 shares in the last quarter. Braidwell LP raised its position in Arvinas by 148.3% during the third quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock valued at $31,637,000 after purchasing an additional 767,242 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its stake in Arvinas by 1.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,244,450 shares of the company’s stock worth $30,651,000 after purchasing an additional 17,723 shares during the last quarter. Institutional investors and hedge funds 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.