Arvinas, Inc. (NASDAQ:ARVN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Arvinas, Inc. (NASDAQ:ARVN) have earned a consensus rating of “Moderate Buy” from the sixteen analysts that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $57.50.

A number of brokerages have weighed in on ARVN. Oppenheimer cut their price target on shares of Arvinas from $70.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. HC Wainwright reaffirmed a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research note on Thursday, August 1st. Barclays cut their price target on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Arvinas in a research note on Tuesday, July 30th.

Arvinas Price Performance

Arvinas stock opened at $27.04 on Friday. The company’s 50 day simple moving average is $25.23 and its 200 day simple moving average is $28.62. Arvinas has a fifty-two week low of $13.57 and a fifty-two week high of $53.08. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -4.56 and a beta of 1.97.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.49) earnings per share 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 the consensus estimate of $33.27 million. During the same period in the previous year, the business earned ($1.25) EPS. The firm’s revenue was up 40.4% compared to the same quarter last year. As a group, analysts predict that Arvinas will post -3.51 EPS for the current fiscal year.

Institutional Trading of Arvinas

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new position in Arvinas during the fourth quarter worth $266,000. Vanguard Group Inc. increased its holdings in Arvinas by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 4,851,390 shares of the company’s stock worth $199,683,000 after buying an additional 243,167 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Arvinas during the fourth quarter worth $3,046,000. Los Angeles Capital Management LLC increased its holdings in Arvinas by 7.1% during the first quarter. Los Angeles Capital Management LLC now owns 29,882 shares of the company’s stock worth $1,234,000 after buying an additional 1,993 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in Arvinas by 71.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 61,862 shares of the company’s stock worth $2,554,000 after buying an additional 25,778 shares during the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

About Arvinas

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.