Arvinas, Inc. (NASDAQ:ARVN) Receives $63.50 Average Price Target from Analysts

Shares of Arvinas, Inc. (NASDAQ:ARVN) have been given a consensus rating of “Moderate Buy” by the fifteen analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $63.50.

ARVN has been the topic of several research reports. HC Wainwright reissued a “buy” rating and issued a $87.00 target price on shares of Arvinas in a report on Wednesday, December 11th. Stephens initiated coverage on Arvinas in a report on Monday, November 18th. They set an “overweight” rating and a $55.00 target price on the stock. BTIG Research initiated coverage on Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 price objective on the stock. Oppenheimer cut their price objective on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, BMO Capital Markets dropped their price objective on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th.

Arvinas Price Performance

Shares of ARVN stock opened at $18.14 on Tuesday. Arvinas has a 1-year low of $17.08 and a 1-year high of $53.08. The business’s fifty day moving average price is $20.89 and its 200 day moving average price is $24.34. The firm has a market capitalization of $1.25 billion, a PE ratio of -3.88 and a beta of 1.87.

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

Hedge Funds Weigh In On Arvinas

Several institutional investors have recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in Arvinas in the 3rd quarter valued at approximately $39,000. KBC Group NV increased its holdings in shares of Arvinas by 77.0% during the fourth quarter. KBC Group NV now owns 2,885 shares of the company’s stock valued at $55,000 after purchasing an additional 1,255 shares during the period. Amalgamated Bank lifted its holdings in Arvinas by 29.6% in the second quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after purchasing an additional 508 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Arvinas by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after buying an additional 440 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of Arvinas by 147.3% during the third 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. Institutional investors own 95.19% of the company’s stock.

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.