Brokerages Set Arvinas, Inc. (NASDAQ:ARVN) Price Target at $61.08

Arvinas, Inc. (NASDAQ:ARVN) has been given a consensus rating of “Moderate Buy” by the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $63.00.

A number of equities analysts have recently commented on the stock. BMO Capital Markets reduced their price objective on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Oppenheimer lowered their price target on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a report on Thursday, October 31st. Finally, Stephens began coverage on shares of Arvinas in a research note on Monday, November 18th. They issued an “overweight” rating and a $55.00 target price for the company.

Institutional Trading of Arvinas

A number of hedge funds have recently modified their holdings of the stock. nVerses Capital LLC acquired a new position in Arvinas in the 3rd quarter valued at about $39,000. Quest Partners LLC bought a new position in Arvinas during the second quarter worth about $42,000. Amalgamated Bank raised its stake in Arvinas by 29.6% in the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after purchasing an additional 508 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Arvinas by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after purchasing an additional 440 shares during the period. Finally, Quantbot Technologies LP grew its position in shares of Arvinas by 147.3% during the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after purchasing an additional 2,601 shares in the last quarter. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Stock Performance

Shares of Arvinas stock opened at $25.92 on Monday. Arvinas has a 52-week low of $21.17 and a 52-week high of $53.08. The business’s 50 day simple moving average is $25.76 and its 200 day simple moving average is $26.53. The firm has a market cap of $1.78 billion, a PE ratio of -5.55 and a beta of 1.82.

Arvinas (NASDAQ:ARVN) last announced 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 during the quarter, compared to the consensus estimate of $60.56 million. The business’s revenue for the quarter was up 196.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.18) EPS. As a group, equities research analysts predict that Arvinas will post -3.24 EPS for the current year.

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.