Arvinas, Inc. (NASDAQ:ARVN) Receives $56.92 Consensus Target Price from Analysts

Shares of Arvinas, Inc. (NASDAQ:ARVN) have earned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $56.92.

ARVN has been the topic of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Oppenheimer dropped their price objective on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Barclays dropped their price objective on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Wedbush reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Arvinas in a report on Tuesday, July 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $87.00 price objective on shares of Arvinas in a report on Thursday, October 31st.

Hedge Funds Weigh In On Arvinas

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Arvinas by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,570 shares of the company’s stock valued at $519,000 after buying an additional 1,060 shares during the period. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Arvinas during the 1st quarter valued at $44,000. SG Americas Securities LLC boosted its stake in shares of Arvinas by 462.2% during the 1st quarter. SG Americas Securities LLC now owns 36,297 shares of the company’s stock valued at $1,498,000 after buying an additional 29,841 shares during the period. Swiss National Bank boosted its stake in shares of Arvinas by 27.5% during the 1st quarter. Swiss National Bank now owns 114,100 shares of the company’s stock valued at $4,710,000 after buying an additional 24,600 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Arvinas by 219.4% during the 1st quarter. Sei Investments Co. now owns 24,501 shares of the company’s stock valued at $1,012,000 after buying an additional 16,831 shares during the period. Institutional investors and hedge funds own 95.19% of the company’s stock.

Arvinas Stock Performance

Shares of Arvinas stock opened at $28.04 on Thursday. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -6.00 and a beta of 1.96. Arvinas has a fifty-two week low of $14.64 and a fifty-two week high of $53.08. The stock has a 50 day moving average of $25.80 and a 200 day moving average of $27.45.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.88) by $0.20. The firm had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $60.56 million. During the same quarter in the prior year, the business earned ($1.18) earnings per share. The company’s quarterly revenue was up 196.0% on a year-over-year basis. Analysts forecast that Arvinas will post -3.32 EPS for the current year.

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.