Oppenheimer Lowers Arvinas (NASDAQ:ARVN) Price Target to $50.00

Arvinas (NASDAQ:ARVN) had its target price reduced by Oppenheimer from $70.00 to $50.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts also recently commented on the company. Wedbush reiterated an outperform rating and issued a $57.00 price objective on shares of Arvinas in a report on Tuesday. Stifel Nicolaus decreased their price objective on Arvinas from $72.00 to $68.00 and set a buy rating on the stock in a report on Wednesday, May 8th. HC Wainwright reiterated a buy rating and issued a $87.00 price objective on shares of Arvinas in a report on Friday, May 17th. Finally, Wells Fargo & Company reduced their price target on Arvinas from $63.00 to $60.00 and set an overweight rating on the stock in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $58.33.

Arvinas Stock Down 3.5 %

Shares of ARVN stock opened at $25.84 on Wednesday. The business has a 50-day moving average price of $27.92 and a two-hundred day moving average price of $35.91. Arvinas has a 12-month low of $13.57 and a 12-month high of $53.08. The firm has a market cap of $1.77 billion, a P/E ratio of -4.36 and a beta of 1.98.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($1.08) by $0.59. The company had revenue of $76.50 million during the quarter, compared to analysts’ expectations of $33.27 million. The firm’s quarterly revenue was up 40.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.25) EPS. As a group, research analysts expect that Arvinas will post -4.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Arvinas in the 1st quarter worth approximately $44,000. Headlands Technologies LLC boosted its position in shares of Arvinas by 393.4% in the 4th quarter. Headlands Technologies LLC now owns 2,388 shares of the company’s stock worth $98,000 after purchasing an additional 1,904 shares in the last quarter. Personal CFO Solutions LLC bought a new stake in shares of Arvinas in the 4th quarter worth approximately $206,000. Cullinan Associates Inc. bought a new stake in shares of Arvinas in the 1st quarter worth approximately $248,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Arvinas by 363.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,370 shares of the company’s stock worth $262,000 after purchasing an additional 4,996 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

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.