Arvinas, Inc. (NASDAQ:ARVN) Receives $63.50 Average Target Price from Brokerages

Shares of Arvinas, Inc. (NASDAQ:ARVN) have been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $63.50.

Several equities analysts have recently issued reports on ARVN shares. Guggenheim restated a “buy” rating on shares of Arvinas in a report on Thursday, December 12th. HC Wainwright reaffirmed a “buy” rating and issued a $87.00 price target on shares of Arvinas in a report on Wednesday, December 11th. BTIG Research started coverage on shares of Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 price objective for the company. Oppenheimer cut their target price on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, 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 research report on Wednesday, November 20th.

Arvinas Stock Down 1.2 %

Shares of ARVN opened at $18.00 on Tuesday. The company has a 50 day moving average of $20.98 and a two-hundred day moving average of $24.41. Arvinas has a twelve month low of $17.08 and a twelve month high of $53.08. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -3.85 and a beta of 1.87.

Arvinas (NASDAQ:ARVN) last posted 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 business had revenue of $102.40 million during the quarter, compared to analyst estimates of $60.56 million. During the same period in the previous year, the business earned ($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 expect that Arvinas will post -3.22 EPS for the current year.

Hedge Funds Weigh In On Arvinas

Several institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its holdings in Arvinas by 18.7% in the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after purchasing an additional 367,343 shares during the period. Baker BROS. Advisors LP purchased a new position in shares of Arvinas during the 3rd quarter valued at approximately $9,989,000. Wasatch Advisors LP grew its stake in Arvinas by 58.3% in the 3rd quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock valued at $10,737,000 after acquiring an additional 160,510 shares during the period. Barclays PLC increased its holdings in Arvinas by 198.9% in the 3rd quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after acquiring an additional 80,984 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Arvinas by 0.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 140,518 shares of the company’s stock worth $2,694,000 after acquiring an additional 777 shares during the period. Hedge funds and other 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.