Arvinas (NASDAQ:ARVN) PT Lowered to $50.00 at Oppenheimer

Arvinas (NASDAQ:ARVN) had its price target decreased by Oppenheimer from $70.00 to $50.00 in a report published on Wednesday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other equities research analysts have also recently issued reports on ARVN. Wedbush restated an outperform rating and issued a $57.00 target price on shares of Arvinas in a report on Tuesday. Stifel Nicolaus dropped their price target on shares of Arvinas from $72.00 to $68.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. HC Wainwright reiterated a buy rating and set a $87.00 price target on shares of Arvinas in a research note on Friday, May 17th. Finally, Wells Fargo & Company dropped their price target on shares of Arvinas from $63.00 to $60.00 and set an overweight rating on the stock in a research note on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Arvinas presently has an average rating of Moderate Buy and an average price target of $58.33.

Arvinas Stock Down 3.5 %

Shares of ARVN opened at $25.84 on Wednesday. Arvinas has a twelve month low of $13.57 and a twelve month high of $53.08. The firm has a 50 day moving average of $27.92 and a 200 day moving average of $35.91. The company has a market capitalization of $1.77 billion, a P/E ratio of -4.36 and a beta of 1.98.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Tuesday, July 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.08) by $0.59. The company had revenue of $76.50 million during the quarter, compared to analysts’ expectations of $33.27 million. During the same quarter in the prior year, the business posted ($1.25) EPS. The company’s revenue for the quarter was up 40.4% compared to the same quarter last year. On average, sell-side analysts expect that Arvinas will post -4.08 EPS for the current year.

Institutional Trading of Arvinas

A number of institutional investors and hedge funds have recently bought and sold shares of ARVN. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Arvinas in the 1st quarter valued at $44,000. Headlands Technologies LLC increased its holdings in Arvinas by 393.4% in the 4th quarter. Headlands Technologies LLC now owns 2,388 shares of the company’s stock valued at $98,000 after acquiring an additional 1,904 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in Arvinas in the 2nd quarter valued at $185,000. Personal CFO Solutions LLC bought a new stake in Arvinas in the 4th quarter valued at $206,000. Finally, Cullinan Associates Inc. bought a new stake in Arvinas in the 1st quarter valued at $248,000. 95.19% of the stock is currently owned by institutional investors.

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.