Arvinas (NASDAQ:ARVN) Receives “Buy” Rating from Guggenheim

Guggenheim reissued their buy rating on shares of Arvinas (NASDAQ:ARVN) in a research report released on Thursday,Benzinga reports.

Several other analysts also recently commented on ARVN. BMO Capital Markets reduced their target price on Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. BTIG Research assumed coverage on shares of Arvinas in a report on Tuesday. They set a “buy” rating and a $69.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $87.00 target price on shares of Arvinas in a report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Finally, Stephens started coverage on Arvinas in a report on Monday, November 18th. They set an “overweight” rating and a $55.00 price target on the stock. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $63.50.

Arvinas Price Performance

Shares of NASDAQ ARVN opened at $19.74 on Thursday. Arvinas has a 1 year low of $19.67 and a 1 year high of $53.08. The company has a 50 day simple moving average of $25.63 and a 200 day simple moving average of $26.18. The firm has a market cap of $1.36 billion, a PE ratio of -4.23 and a beta of 1.82.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.20. The firm had revenue of $102.40 million during the quarter, compared to the consensus estimate of $60.56 million. The company’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 company posted ($1.18) earnings per share. As a group, research analysts anticipate that Arvinas will post -3.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arvinas

A number of large investors have recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in shares of Arvinas by 11.6% during the 3rd quarter. Franklin Resources Inc. now owns 69,190 shares of the company’s stock valued at $1,776,000 after purchasing an additional 7,166 shares during the last quarter. M&T Bank Corp increased its position in shares of Arvinas by 53.5% in the third quarter. M&T Bank Corp now owns 27,137 shares of the company’s stock valued at $669,000 after acquiring an additional 9,462 shares during the period. Barclays PLC lifted its holdings in Arvinas by 198.9% in the 3rd quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after buying an additional 80,984 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Arvinas by 36.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 90,870 shares of the company’s stock valued at $2,238,000 after purchasing an additional 24,223 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Arvinas in the 3rd quarter valued at approximately $453,000. 95.19% of the stock is owned by hedge funds and other institutional investors.

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.