Oppenheimer Issues Pessimistic Forecast for Arvinas (NASDAQ:ARVN) Stock Price

Arvinas (NASDAQ:ARVN) had its price target dropped by equities research analysts at Oppenheimer from $50.00 to $40.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 48.70% from the stock’s previous close.

ARVN has been the topic of several other research reports. Wedbush reissued an “outperform” rating and issued a $57.00 target price on shares of Arvinas in a report on Tuesday, July 30th. Barclays dropped their target price on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.92.

Arvinas Stock Up 1.8 %

Shares of NASDAQ ARVN opened at $26.90 on Thursday. The firm has a 50-day moving average price of $25.62 and a 200 day moving average price of $27.84. Arvinas has a 52 week low of $14.02 and a 52 week high of $53.08. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -5.76 and a beta of 1.97.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.20. The company had revenue of $102.40 million for the quarter, compared to analyst estimates of $60.56 million. Arvinas’s revenue was up 196.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.18) earnings per share. Equities research analysts expect that Arvinas will post -3.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Arvinas

Several hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. lifted its position in Arvinas by 64.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 13,203 shares of the company’s stock worth $325,000 after buying an additional 5,163 shares during the period. abrdn plc lifted its holdings in shares of Arvinas by 27.8% during the 3rd quarter. abrdn plc now owns 78,585 shares of the company’s stock worth $1,936,000 after acquiring an additional 17,093 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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. E. Ohman J or Asset Management AB grew its holdings in Arvinas by 20.1% in the third quarter. E. Ohman J or Asset Management AB now owns 29,830 shares of the company’s stock valued at $735,000 after purchasing an additional 5,000 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Arvinas during the third quarter worth approximately $3,442,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

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.