Arvinas (NASDAQ:ARVN) Price Target Lowered to $88.00 at BMO Capital Markets

Arvinas (NASDAQ:ARVN) had its target price lowered by stock analysts at BMO Capital Markets from $90.00 to $88.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 250.88% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Wedbush reissued an “outperform” rating and issued a $57.00 price objective on shares of Arvinas in a report on Tuesday, July 30th. Barclays decreased their price objective on Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Oppenheimer decreased their price objective on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Stephens initiated coverage on Arvinas in a report on Monday. They issued an “overweight” rating and a $55.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Arvinas presently has an average rating of “Moderate Buy” and a consensus price target of $61.08.

Arvinas Price Performance

Shares of Arvinas stock opened at $25.08 on Wednesday. Arvinas has a 1 year low of $20.99 and a 1 year 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 stock has a fifty day moving average price of $25.62 and a 200-day moving average price of $27.06.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.88) by $0.20. The business had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $60.56 million. During the same period in the prior year, the business earned ($1.18) earnings per share. The company’s revenue for the quarter was up 196.0% compared to the same quarter last year. As a group, equities analysts anticipate that Arvinas will post -3.32 EPS for the current fiscal year.

Institutional Trading of Arvinas

Large investors have recently modified their holdings of the business. Quest Partners LLC bought a new stake in shares of Arvinas during the 2nd quarter valued at about $42,000. nVerses Capital LLC purchased a new stake in Arvinas in the third quarter worth approximately $39,000. Amalgamated Bank boosted its stake in Arvinas by 29.6% in the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after buying an additional 508 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 worth $61,000 after buying an additional 440 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in 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 buying an additional 2,601 shares in the last quarter. Institutional investors own 95.19% of the company’s stock.

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.