Arvinas (NASDAQ:ARVN) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Arvinas (NASDAQ:ARVN) in a report published on Wednesday,Benzinga reports. HC Wainwright currently has a $87.00 target price on the stock.

Several other equities analysts also recently commented on ARVN. BMO Capital Markets cut their price target on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. BTIG Research began coverage on Arvinas in a research note on Tuesday. They set a “buy” rating and a $69.00 target price on the stock. Oppenheimer decreased their price target on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Finally, Stephens started coverage on shares of Arvinas in a research note on Monday, November 18th. They set an “overweight” rating and a $55.00 target price for the company. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $63.50.

Arvinas Price Performance

Shares of NASDAQ ARVN opened at $19.50 on Wednesday. The stock has a market capitalization of $1.34 billion, a P/E ratio of -4.18 and a beta of 1.82. Arvinas has a 1-year low of $18.51 and a 1-year high of $53.08. The business’s 50 day moving average is $25.52 and its two-hundred day moving average is $26.08.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 196.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.18) EPS. As a group, equities research analysts anticipate that Arvinas will post -3.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arvinas

A number of hedge funds and other institutional investors have recently modified their holdings of the business. nVerses Capital LLC bought a new position in Arvinas in the third quarter worth approximately $39,000. Quest Partners LLC bought a new position in shares of Arvinas in the 2nd quarter worth $42,000. Amalgamated Bank raised its position in shares of Arvinas by 29.6% in the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after acquiring an additional 508 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Arvinas by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after purchasing an additional 440 shares in the last quarter. Finally, Quantbot Technologies LP grew its stake in Arvinas by 147.3% in the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock valued at $108,000 after purchasing an additional 2,601 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors.

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.