Arvinas (NASDAQ:ARVN) Stock Rating Reaffirmed by Cantor Fitzgerald

Arvinas (NASDAQ:ARVN)‘s stock had its “overweight” rating reiterated by investment analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports.

Several other analysts also recently issued reports on ARVN. Barclays reduced their price objective on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Wedbush restated an “outperform” rating and issued a $57.00 target price on shares of Arvinas in a report on Tuesday, July 30th. HC Wainwright reiterated a “buy” rating and set a $87.00 price target on shares of Arvinas in a report on Thursday, August 1st. Finally, Oppenheimer cut their price objective on shares of Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Arvinas currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.50.

Arvinas Stock Performance

Shares of ARVN stock opened at $25.51 on Monday. The stock has a fifty day moving average price of $26.46 and a 200 day moving average price of $32.10. The stock has a market cap of $1.75 billion, a PE ratio of -4.30 and a beta of 1.97. Arvinas has a 1 year low of $13.57 and a 1 year high of $53.08.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.08) by $0.59. The firm had revenue of $76.50 million for the quarter, compared to analyst estimates of $33.27 million. During the same period last year, the firm earned ($1.25) EPS. The company’s quarterly revenue was up 40.4% compared to the same quarter last year. As a group, equities research analysts predict that Arvinas will post -3.51 earnings per share for the current year.

Hedge Funds Weigh In On Arvinas

Several hedge funds and other institutional investors have recently modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Arvinas in the 1st quarter valued at $44,000. Quest Partners LLC purchased a new stake in shares of Arvinas in the second quarter worth about $42,000. Amalgamated Bank grew its stake 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 buying an additional 508 shares in the last quarter. Personal CFO Solutions LLC purchased a new stake in shares of Arvinas during the 4th quarter valued at about $206,000. Finally, Cullinan Associates Inc. purchased a new position in Arvinas in the 1st quarter worth approximately $248,000. 95.19% of the stock is owned by institutional investors and hedge funds.

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.