Brokerages Set Arvinas, Inc. (NASDAQ:ARVN) Target Price at $57.50

Shares of Arvinas, Inc. (NASDAQ:ARVN) have received a consensus rating of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $57.50.

A number of equities analysts have recently commented on the stock. Oppenheimer reduced their price objective on shares of Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. Wedbush reiterated an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research 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 research report on Wednesday, July 31st. Finally, HC Wainwright reiterated a “buy” rating and set a $87.00 target price on shares of Arvinas in a research report on Thursday, August 1st.

Institutional Investors Weigh In On Arvinas

Institutional investors have recently modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Arvinas during the 1st quarter worth approximately $44,000. Quest Partners LLC acquired a new stake in shares of Arvinas during the 2nd quarter worth approximately $42,000. nVerses Capital LLC acquired a new stake in shares of Arvinas during the 3rd quarter worth approximately $39,000. Amalgamated Bank grew its position in shares of Arvinas by 29.6% during the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after buying an additional 508 shares during the period. Finally, Cullinan Associates Inc. acquired a new stake in shares of Arvinas during the 1st quarter worth approximately $248,000. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Price Performance

Shares of Arvinas stock opened at $27.04 on Friday. The firm has a fifty day moving average price of $25.23 and a two-hundred day moving average price of $28.62. The company has a market cap of $1.85 billion, a PE ratio of -4.56 and a beta of 1.97. 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 quarterly earnings data on Tuesday, July 30th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.59. The business had revenue of $76.50 million for the quarter, compared to the consensus estimate of $33.27 million. Arvinas’s revenue was up 40.4% on a year-over-year basis. During the same period in the previous year, the business posted ($1.25) earnings per share. Analysts expect that Arvinas will post -3.51 earnings per share for the current fiscal 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.