Arvinas, Inc. (NASDAQ:ARVN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Arvinas, Inc. (NASDAQ:ARVN) has been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $63.50.

Several brokerages have recently weighed in on ARVN. HC Wainwright reissued a “buy” rating and set a $87.00 price target on shares of Arvinas in a research note on Wednesday, December 11th. Guggenheim reaffirmed a “buy” rating on shares of Arvinas in a research report on Thursday, December 12th. BTIG Research assumed coverage on Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 price target on the stock. BMO Capital Markets reduced their price objective on Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a report on Monday, September 9th.

Institutional Investors Weigh In On Arvinas

Institutional investors have recently bought and sold shares of the company. Braidwell LP lifted its position in shares of Arvinas by 148.3% in the third quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock valued at $31,637,000 after acquiring an additional 767,242 shares in the last quarter. Baker BROS. Advisors LP purchased a new position in Arvinas in the 3rd quarter valued at $9,989,000. JPMorgan Chase & Co. boosted its stake in Arvinas by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after purchasing an additional 367,343 shares during the last quarter. FMR LLC raised its position in shares of Arvinas by 7.6% in the third quarter. FMR LLC now owns 2,883,604 shares of the company’s stock valued at $71,023,000 after buying an additional 204,317 shares during the last quarter. Finally, Wasatch Advisors LP boosted its position in Arvinas by 58.3% during the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock worth $10,737,000 after acquiring an additional 160,510 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Arvinas Stock Performance

NASDAQ ARVN opened at $19.08 on Friday. The business’s fifty day moving average is $24.20 and its 200 day moving average is $25.34. Arvinas has a fifty-two week low of $17.37 and a fifty-two week high of $53.08. The company has a market capitalization of $1.31 billion, a PE ratio of -4.09 and a beta of 1.82.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.20. The company had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $60.56 million. The company’s quarterly revenue was up 196.0% compared to the same quarter last year. During the same period last year, the business earned ($1.18) earnings per share. On average, sell-side analysts forecast that Arvinas will post -3.22 EPS for the current year.

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.