Arvinas’ (ARVN) “Outperform” Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reiterated their outperform rating on shares of Arvinas (NASDAQ:ARVN) in a report published on Wednesday,Benzinga reports. BMO Capital Markets currently has a $82.00 price target on the stock, down from their prior price target of $88.00.

ARVN has been the topic of several other reports. Stephens started coverage on shares of Arvinas in a research report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price target on the stock. BTIG Research started coverage on Arvinas in a research report on Tuesday, December 10th. They set a “buy” rating and a $69.00 target price on the stock. Barclays cut their price target on Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Oppenheimer reduced their price objective on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Wedbush restated an “outperform” rating and set a $57.00 price objective on shares of Arvinas in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.58.

Arvinas Stock Up 1.5 %

Shares of NASDAQ:ARVN opened at $17.95 on Wednesday. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -3.84 and a beta of 1.88. The business has a 50 day moving average price of $19.18 and a 200 day moving average price of $23.32. Arvinas has a twelve month low of $16.61 and a twelve month high of $53.08.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.44. During the same period in the prior year, the firm earned ($2.53) earnings per share. Analysts anticipate that Arvinas will post -3.22 EPS for the current year.

Institutional Investors Weigh In On Arvinas

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Arvinas during the 4th quarter worth about $23,845,000. Braidwell LP increased its holdings in shares of Arvinas by 148.3% during the third quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock worth $31,637,000 after buying an additional 767,242 shares in the last quarter. Baker BROS. Advisors LP bought a new position in shares of Arvinas in the third quarter valued at approximately $9,989,000. JPMorgan Chase & Co. raised its stake in shares of Arvinas by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after acquiring an additional 367,343 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Arvinas by 7.6% in the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after acquiring an additional 204,317 shares in the last quarter. Institutional investors and hedge funds 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.