Arvinas (NASDAQ:ARVN) Given Buy Rating at HC Wainwright

Arvinas (NASDAQ:ARVN)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a report released on Thursday, Benzinga reports. They currently have a $87.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 224.63% from the company’s current price.

Several other equities research analysts have also commented on ARVN. Oppenheimer dropped their price target on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Barclays dropped their price target on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, Wedbush reiterated an “outperform” rating and set a $57.00 price objective on shares of Arvinas in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.92.

Arvinas Stock Performance

Shares of Arvinas stock traded down $0.86 during trading on Thursday, reaching $26.80. The company had a trading volume of 67,558 shares, compared to its average volume of 716,944. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -4.40 and a beta of 1.97. The firm’s fifty day moving average is $25.53 and its 200-day moving average is $27.85. Arvinas has a fifty-two week low of $14.02 and a fifty-two week high of $53.08.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.88) by $0.20. The business had revenue of $102.40 million for the quarter, compared to analyst estimates of $60.56 million. Arvinas’s revenue was up 196.0% compared to the same quarter last year. During the same quarter last year, the company earned ($1.18) EPS. On average, research analysts anticipate that Arvinas will post -3.51 EPS for the current fiscal year.

Institutional Trading of Arvinas

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Arvinas by 29.9% during the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock worth $260,046,000 after buying an additional 1,448,166 shares in the last quarter. Swiss National Bank boosted its stake in Arvinas by 27.5% in the 1st quarter. Swiss National Bank now owns 114,100 shares of the company’s stock worth $4,710,000 after purchasing an additional 24,600 shares during the period. SG Americas Securities LLC boosted its stake in Arvinas by 137.2% in the 2nd quarter. SG Americas Securities LLC now owns 86,096 shares of the company’s stock worth $2,292,000 after purchasing an additional 49,799 shares during the period. Candriam S.C.A. boosted its stake in Arvinas by 32.0% in the 2nd quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock worth $16,250,000 after purchasing an additional 147,904 shares during the period. Finally, Magnetar Financial LLC boosted its stake in Arvinas by 112.7% in the 2nd quarter. Magnetar Financial LLC now owns 41,992 shares of the company’s stock worth $1,118,000 after purchasing an additional 22,245 shares during the period. 95.19% of the stock is currently owned by 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.