Arvinas, Inc. (NASDAQ:ARVN) Receives $61.13 Consensus PT from Analysts

Arvinas, Inc. (NASDAQ:ARVN) has earned an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $61.13.

Several equities analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research report on Friday, May 17th. Truist Financial restated a “buy” rating and set a $65.00 target price on shares of Arvinas in a research report on Monday, March 25th. Stifel Nicolaus dropped their target price on Arvinas from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Wedbush restated an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research report on Wednesday, May 8th. Finally, Wells Fargo & Company dropped their target price on Arvinas from $63.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th.

Arvinas Stock Performance

Shares of ARVN opened at $26.70 on Friday. The stock has a fifty day moving average price of $29.28 and a two-hundred day moving average price of $37.24. Arvinas has a 52-week low of $13.57 and a 52-week high of $53.08. The company has a market cap of $1.83 billion, a price-to-earnings ratio of -4.50 and a beta of 1.98.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.97) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.45. The business had revenue of $25.30 million during the quarter, compared to the consensus estimate of $32.94 million. During the same quarter in the previous year, the firm posted ($1.54) EPS. The company’s revenue for the quarter was down 22.2% compared to the same quarter last year. As a group, research analysts predict that Arvinas will post -4.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Arvinas

A number of institutional investors have recently made changes to their positions in the stock. American International Group Inc. increased its holdings 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 in the last quarter. Principal Financial Group Inc. increased its holdings 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 in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Arvinas by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 12,570 shares of the company’s stock worth $519,000 after acquiring an additional 1,060 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Arvinas during the first quarter worth about $44,000. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Arvinas by 7.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 18,167 shares of the company’s stock worth $748,000 after buying an additional 1,239 shares in the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

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.