Guggenheim Reiterates “Buy” Rating for Arvinas (NASDAQ:ARVN)

Arvinas (NASDAQ:ARVN)‘s stock had its “buy” rating restated by analysts at Guggenheim in a research note issued on Thursday,Benzinga reports.

A number of other research analysts have also recently commented on the stock. Stephens assumed coverage on shares of Arvinas in a research report on Monday, November 18th. They issued an “overweight” rating and a $55.00 target price on the stock. Oppenheimer cut their price target on 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 reissued an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. BMO Capital Markets lowered their price target on Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $87.00 price target on shares of Arvinas in a research note on Wednesday. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Arvinas has a consensus rating of “Moderate Buy” and an average target price of $63.50.

Arvinas Price Performance

Shares of Arvinas stock opened at $19.50 on Thursday. Arvinas has a 1-year low of $18.51 and a 1-year high of $53.08. The stock has a market cap of $1.34 billion, a P/E ratio of -4.18 and a beta of 1.82. The stock’s 50 day simple moving average is $25.52 and its 200-day simple moving average is $26.08.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data 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 company had revenue of $102.40 million for the quarter, compared to analyst estimates of $60.56 million. The business’s quarterly revenue was up 196.0% on a year-over-year basis. During the same period last year, the firm posted ($1.18) EPS. As a group, research analysts expect that Arvinas will post -3.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Arvinas

Several large investors have recently modified their holdings of ARVN. Mirae Asset Global Investments Co. Ltd. increased its stake in Arvinas by 21.5% in the 3rd 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 during the period. Amalgamated Bank boosted its holdings in shares of Arvinas by 29.6% in the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after acquiring an additional 508 shares in the last quarter. Edgestream Partners L.P. increased its stake in shares of Arvinas by 16.3% during the second quarter. Edgestream Partners L.P. now owns 9,311 shares of the company’s stock worth $248,000 after acquiring an additional 1,305 shares during the period. Quest Partners LLC purchased a new position in Arvinas during the second quarter worth about $42,000. Finally, nVerses Capital LLC acquired a new stake in Arvinas in the third quarter valued at about $39,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

About Arvinas

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.