Guggenheim Reaffirms “Buy” Rating for Arvinas (NASDAQ:ARVN)

Guggenheim reissued their buy rating on shares of Arvinas (NASDAQ:ARVN) in a report issued on Thursday,Benzinga reports.

A number of other equities research analysts have also weighed in on ARVN. BMO Capital Markets cut their target price on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Stephens assumed coverage on shares of Arvinas in a report on Monday, November 18th. They set an “overweight” rating and a $55.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $87.00 price target on shares of Arvinas in a report on Wednesday. BTIG Research assumed coverage on Arvinas in a report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 price objective for the company. Finally, Oppenheimer dropped their price target on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.50.

Arvinas Trading Down 1.2 %

Shares of NASDAQ:ARVN opened at $19.50 on Thursday. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -4.18 and a beta of 1.82. Arvinas has a 12 month low of $18.51 and a 12 month high of $53.08. The company has a 50-day moving average price of $25.52 and a 200-day moving average price of $26.01.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.20. The business had revenue of $102.40 million for the quarter, compared to the consensus estimate of $60.56 million. Arvinas’s revenue was up 196.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.18) EPS. As a group, research analysts forecast that Arvinas will post -3.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Arvinas

A number of large investors have recently made changes to their positions in the company. SG Americas Securities LLC raised its stake in shares of Arvinas by 137.2% during the second quarter. SG Americas Securities LLC now owns 86,096 shares of the company’s stock valued at $2,292,000 after acquiring an additional 49,799 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Arvinas by 6.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 65,907 shares of the company’s stock valued at $1,754,000 after buying an additional 4,045 shares during the period. Bank of New York Mellon Corp grew its position in Arvinas by 32.6% during the second quarter. Bank of New York Mellon Corp now owns 235,096 shares of the company’s stock valued at $6,258,000 after buying an additional 57,835 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Arvinas by 13.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 14,298 shares of the company’s stock valued at $381,000 after buying an additional 1,728 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Arvinas by 30.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,062 shares of the company’s stock worth $268,000 after purchasing an additional 2,363 shares in the last quarter. 95.19% of the stock is owned by hedge funds and other 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.