Brokerages Set Arvinas, Inc. (NASDAQ:ARVN) PT at $56.92

Shares of Arvinas, Inc. (NASDAQ:ARVN) have earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $56.92.

ARVN has been the subject of several research reports. Oppenheimer reduced their target price on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $87.00 target price on shares of Arvinas in a research report on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Wedbush restated an “outperform” rating and issued a $57.00 price objective on shares of Arvinas in a research note on Tuesday, July 30th. Finally, Barclays decreased their target price on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st.

Arvinas Stock Performance

Shares of NASDAQ ARVN opened at $27.14 on Thursday. The stock’s 50-day simple moving average is $25.76 and its 200-day simple moving average is $27.51. The firm has a market capitalization of $1.86 billion, a PE ratio of -5.81 and a beta of 1.96. Arvinas has a fifty-two week low of $14.02 and a fifty-two week high of $53.08.

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. During the same period in the previous year, the business posted ($1.18) EPS. The firm’s revenue for the quarter was up 196.0% compared to the same quarter last year. On average, sell-side analysts forecast that Arvinas will post -3.32 earnings per share for the current fiscal year.

Institutional Trading of Arvinas

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new position in Arvinas during the third quarter worth $39,000. Quest Partners LLC acquired a new stake in Arvinas in the second quarter valued at $42,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Arvinas in the first quarter valued at $44,000. Amalgamated Bank raised its stake in shares of Arvinas by 29.6% during the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after buying an additional 508 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Arvinas by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after buying an additional 440 shares in the last quarter. Institutional investors and hedge funds 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.