Arvinas (NASDAQ:ARVN) Earns Buy Rating from Analysts at BTIG Research

BTIG Research started coverage on shares of Arvinas (NASDAQ:ARVN) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm issued a buy rating and a $69.00 price objective on the stock.

ARVN has been the topic of several other reports. Oppenheimer dropped their target price on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Stephens initiated coverage on Arvinas in a research note on Monday, November 18th. They set an “overweight” rating and a $55.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $87.00 price objective on shares of Arvinas in a report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Finally, BMO Capital Markets dropped their target price on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Arvinas has a consensus rating of “Moderate Buy” and an average target price of $63.50.

Arvinas Stock Performance

NASDAQ:ARVN opened at $24.59 on Tuesday. The company’s 50-day simple moving average is $25.77 and its 200-day simple moving average is $26.26. Arvinas has a fifty-two week low of $21.17 and a fifty-two week high of $53.08. The stock has a market capitalization of $1.69 billion, a P/E ratio of -5.27 and a beta of 1.82.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share 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 analyst estimates of $60.56 million. During the same quarter last year, the business earned ($1.18) earnings per share. Arvinas’s revenue was up 196.0% on a year-over-year basis. On average, research analysts forecast that Arvinas will post -3.22 EPS for the current year.

Institutional Trading of Arvinas

Several large investors have recently made changes to their positions in the business. nVerses Capital LLC purchased a new stake in Arvinas in the third quarter valued at $39,000. Quest Partners LLC acquired a new position in shares of Arvinas in the 2nd quarter valued at about $42,000. Amalgamated Bank grew its position in Arvinas by 29.6% during the second 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 period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Arvinas by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after buying an additional 440 shares in the last quarter. Finally, Quantbot Technologies LP raised its position in shares of Arvinas by 147.3% in the third 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. 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.