Brokerages Set Arvinas, Inc. (NASDAQ:ARVN) PT at $63.50

Shares of Arvinas, Inc. (NASDAQ:ARVN) have been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $63.50.

ARVN has been the topic of a number of research analyst reports. BMO Capital Markets reduced their price target on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Guggenheim reiterated a “buy” rating on shares of Arvinas in a report on Thursday, December 12th. Stephens started coverage on Arvinas in a report on Monday, November 18th. They set an “overweight” rating and a $55.00 target price for the company. Oppenheimer cut 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, October 31st. Finally, HC Wainwright reissued a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research note on Wednesday, December 11th.

Arvinas Price Performance

NASDAQ:ARVN opened at $18.14 on Tuesday. The company’s 50-day moving average is $20.89 and its two-hundred day moving average is $24.34. Arvinas has a 1-year low of $17.08 and a 1-year high of $53.08. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -3.88 and a beta of 1.87.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.20. The business had revenue of $102.40 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company posted ($1.18) earnings per share. As a group, equities analysts anticipate that Arvinas will post -3.22 earnings per share for the current fiscal year.

Institutional Trading of Arvinas

Institutional investors and hedge funds have recently bought and sold shares of the business. nVerses Capital LLC purchased a new stake in Arvinas during the 3rd quarter valued at approximately $39,000. KBC Group NV lifted its holdings in shares of Arvinas by 77.0% during the fourth quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after purchasing an additional 1,255 shares during the period. Amalgamated Bank grew its position in Arvinas by 29.6% in the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after buying an additional 508 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Arvinas by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after buying an additional 440 shares during the last quarter. Finally, Quantbot Technologies LP lifted its stake in shares of Arvinas by 147.3% in the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after acquiring an additional 2,601 shares during the period. Hedge funds and other institutional investors own 95.19% of the company’s stock.

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.