Arvinas (NASDAQ:ARVN) Now Covered by Stephens

Stephens initiated coverage on shares of Arvinas (NASDAQ:ARVN) in a research note issued to investors on Monday morning, MarketBeat reports. The brokerage issued an overweight rating and a $55.00 price objective on the stock.

Several other equities research analysts also recently commented on ARVN. Barclays reduced their price target 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. Oppenheimer dropped their price objective 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. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Wedbush reiterated an “outperform” rating and issued a $57.00 price objective on shares of Arvinas in a research note on Tuesday, July 30th. Finally, HC Wainwright restated a “buy” rating and set a $87.00 price target on shares of Arvinas in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.08.

Arvinas Price Performance

ARVN stock opened at $25.08 on Monday. Arvinas has a 12 month low of $20.99 and a 12 month high of $53.08. The firm has a market cap of $1.72 billion, a PE ratio of -5.38 and a beta of 1.96. The firm has a 50 day simple moving average of $25.62 and a 200 day simple moving average of $27.06.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($0.88) by $0.20. The firm had revenue of $102.40 million during the quarter, compared to analysts’ expectations of $60.56 million. The firm’s revenue was up 196.0% compared to the same quarter last year. During the same quarter last year, the company posted ($1.18) EPS. As a group, sell-side analysts expect that Arvinas will post -3.32 earnings per share for the current year.

Institutional Trading of Arvinas

A number of hedge funds have recently bought and sold shares of ARVN. Vanguard Group Inc. boosted its holdings in Arvinas by 29.9% in the 1st quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock valued at $260,046,000 after purchasing an additional 1,448,166 shares during the period. Braidwell LP boosted its holdings in Arvinas by 148.3% in the 3rd quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock valued at $31,637,000 after purchasing an additional 767,242 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Arvinas by 14.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company’s stock valued at $180,329,000 after purchasing an additional 536,295 shares during the period. Baker BROS. Advisors LP bought a new stake in Arvinas in the 3rd quarter valued at $9,989,000. Finally, FMR LLC boosted its holdings in Arvinas by 7.6% in the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock valued at $71,023,000 after purchasing an additional 204,317 shares during the period. 95.19% of the stock is owned by 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.