Arvinas (NASDAQ:ARVN) Now Covered by Stephens

Stephens started coverage on shares of Arvinas (NASDAQ:ARVN) in a research note issued to investors on Monday morning, Marketbeat.com reports. The firm issued an overweight rating and a $55.00 price target on the stock.

A number of other research analysts have also issued reports on ARVN. Barclays reduced their target price on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. HC Wainwright restated a “buy” rating and issued a $87.00 target price on shares of Arvinas in a report on Thursday, October 31st. Wedbush reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Arvinas in a research note on Tuesday, July 30th. Oppenheimer dropped their price objective on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $59.62.

Arvinas Stock Performance

Shares of NASDAQ ARVN opened at $23.19 on Monday. The firm has a market capitalization of $1.59 billion, a P/E ratio of -4.97 and a beta of 1.96. Arvinas has a one year low of $20.28 and a one year high of $53.08. The company’s fifty day moving average is $25.74 and its two-hundred day moving average is $27.17.

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

Hedge Funds Weigh In On Arvinas

A number of institutional investors and hedge funds have recently bought and sold shares of ARVN. Vanguard Group Inc. boosted its holdings in Arvinas by 29.9% in the 1st quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock worth $260,046,000 after acquiring an additional 1,448,166 shares during the period. Braidwell LP boosted its stake in shares of Arvinas by 148.3% during the 3rd quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock valued at $31,637,000 after buying an additional 767,242 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Arvinas by 14.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company’s stock valued at $180,329,000 after buying an additional 536,295 shares during the last quarter. Baker BROS. Advisors LP purchased a new position in shares of Arvinas during the 3rd quarter valued at approximately $9,989,000. Finally, FMR LLC boosted its stake in shares of Arvinas by 7.6% during the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock valued at $71,023,000 after buying an additional 204,317 shares during the last quarter. Hedge funds and other institutional investors 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.