Brokerages Set Arvinas, Inc. (NASDAQ:ARVN) PT at $58.33

Shares of Arvinas, Inc. (NASDAQ:ARVN) have been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $58.33.

A number of equities research analysts recently commented on ARVN shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a report on Wednesday, July 31st. Stifel Nicolaus decreased their target price on Arvinas from $72.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Barclays decreased their target price on Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. HC Wainwright reiterated a “buy” rating and set a $87.00 price target on shares of Arvinas in a research report on Thursday, August 1st. Finally, Wedbush reiterated an “outperform” rating and set a $57.00 price target on shares of Arvinas in a research report on Tuesday, July 30th.

Arvinas Stock Performance

Shares of NASDAQ ARVN opened at $25.77 on Friday. The company has a market cap of $1.76 billion, a PE ratio of -4.35 and a beta of 1.98. The business has a 50-day simple moving average of $26.46 and a two-hundred day simple moving average of $33.75. Arvinas has a fifty-two week low of $13.57 and a fifty-two week high of $53.08.

Arvinas (NASDAQ:ARVN) last released its earnings results on Tuesday, July 30th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.59. The firm had revenue of $76.50 million for the quarter, compared to analyst estimates of $33.27 million. During the same period last year, the firm earned ($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 predict that Arvinas will post -3.67 earnings per share for the current fiscal year.

Institutional Trading of Arvinas

Institutional investors and hedge funds have recently made changes to their positions in the business. American International Group Inc. boosted its stake in shares of Arvinas by 1.8% in the first quarter. American International Group Inc. now owns 24,857 shares of the company’s stock worth $1,026,000 after acquiring an additional 449 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Arvinas by 3.8% in the first quarter. Principal Financial Group Inc. now owns 13,307 shares of the company’s stock worth $549,000 after acquiring an additional 486 shares during the last quarter. Amalgamated Bank boosted its stake in Arvinas by 29.6% during the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after buying an additional 508 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Arvinas by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,570 shares of the company’s stock worth $519,000 after buying an additional 1,060 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Arvinas during the first quarter worth $44,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

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.