Arvinas (NASDAQ:ARVN) Receives “Outperform” Rating from BMO Capital Markets

Arvinas (NASDAQ:ARVN)‘s stock had its “outperform” rating reiterated by equities researchers at BMO Capital Markets in a note issued to investors on Wednesday,Benzinga reports. They currently have a $82.00 price target on the stock, down from their previous price target of $88.00. BMO Capital Markets’ price target indicates a potential upside of 334.35% from the stock’s current price.

A number of other equities research analysts have also issued reports on ARVN. Barclays cut their price target on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Guggenheim reissued a “buy” rating and issued a $57.00 price target on shares of Arvinas in a report on Wednesday. Wedbush reissued an “outperform” rating and issued a $57.00 price target on shares of Arvinas in a report on Tuesday. HC Wainwright reissued a “buy” rating and issued a $87.00 price target on shares of Arvinas in a report on Wednesday, December 11th. Finally, Oppenheimer cut their price target on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Arvinas currently has an average rating of “Moderate Buy” and an average price target of $59.17.

Arvinas Stock Performance

Shares of ARVN stock traded up $1.20 on Wednesday, hitting $18.88. 336,015 shares of the company’s stock traded hands, compared to its average volume of 869,743. Arvinas has a one year low of $16.61 and a one year high of $53.08. The company’s fifty day simple moving average is $19.33 and its 200 day simple moving average is $23.36. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -4.04 and a beta of 1.88.

Arvinas (NASDAQ:ARVN) last released its earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($1.07) by $0.44. During the same quarter in the prior year, the business posted ($2.53) EPS. As a group, sell-side analysts anticipate that Arvinas will post -3.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. nVerses Capital LLC purchased a new position in Arvinas during the 3rd quarter valued at about $39,000. KBC Group NV lifted its position in Arvinas by 77.0% during the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock valued at $55,000 after acquiring an additional 1,255 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Arvinas by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after acquiring an additional 440 shares during the period. Quantbot Technologies LP lifted its position in Arvinas by 147.3% during the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock valued at $108,000 after acquiring an additional 2,601 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in Arvinas by 37.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock valued at $164,000 after acquiring an additional 1,798 shares during the period. 95.19% of the stock is owned by hedge funds and other institutional investors.

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.