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

Arvinas, Inc. (NASDAQ:ARVN) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $63.50.

A number of brokerages recently issued reports on ARVN. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. HC Wainwright restated a “buy” rating and set a $87.00 price target on shares of Arvinas in a research note on Wednesday, December 11th. Guggenheim reaffirmed a “buy” rating on shares of Arvinas in a report on Thursday, December 12th. BTIG Research began coverage on shares of Arvinas in a report on Tuesday, December 10th. They set a “buy” rating and a $69.00 target price on the stock. Finally, Oppenheimer cut their price target on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 31st.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARVN. Baker BROS. Advisors LP purchased a new position in Arvinas in the 3rd quarter worth approximately $9,989,000. Wasatch Advisors LP lifted its holdings in shares of Arvinas by 58.3% during the 3rd quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock worth $10,737,000 after acquiring an additional 160,510 shares during the last quarter. Barclays PLC lifted its holdings in shares of Arvinas by 198.9% during 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 during the last quarter. Candriam S.C.A. grew its position in Arvinas by 32.0% in the second quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock worth $16,250,000 after acquiring an additional 147,904 shares in the last quarter. Finally, Magnetar Financial LLC raised its position in Arvinas by 112.7% during the second quarter. Magnetar Financial LLC now owns 41,992 shares of the company’s stock valued at $1,118,000 after purchasing an additional 22,245 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors.

Arvinas Stock Down 1.5 %

Shares of ARVN stock opened at $18.89 on Friday. The firm has a market cap of $1.30 billion, a P/E ratio of -4.04 and a beta of 1.82. The company has a 50 day moving average of $23.44 and a 200-day moving average of $25.08. Arvinas has a 12-month low of $17.37 and a 12-month high of $53.08.

Arvinas (NASDAQ:ARVN) last released its earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.20. The firm had revenue of $102.40 million during 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 business’s quarterly revenue was up 196.0% compared to the same quarter last year. As a group, equities analysts expect that Arvinas will post -3.22 EPS for the current year.

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.