Arvinas (NASDAQ:ARVN) Now Covered by Analysts at Stephens

Stephens began coverage on shares of Arvinas (NASDAQ:ARVN) in a research report sent to investors on Monday, MarketBeat reports. The brokerage issued an overweight rating and a $55.00 target price on the stock.

A number of other research analysts have also commented on ARVN. Wedbush reissued an “outperform” rating and set a $57.00 price target on shares of Arvinas in a report on Tuesday, July 30th. Oppenheimer lowered their price target on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and set a $87.00 price target on shares of Arvinas in a report on Thursday, October 31st. Barclays lowered their price target on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.62.

Arvinas Price Performance

Shares of NASDAQ ARVN opened at $23.19 on Monday. Arvinas has a 1-year low of $20.28 and a 1-year high of $53.08. The business’s fifty day moving average price is $25.74 and its two-hundred day moving average price is $27.17. The firm has a market capitalization of $1.59 billion, a PE ratio of -4.97 and a beta of 1.96.

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

Institutional Investors Weigh In On Arvinas

A number of institutional investors have recently bought and sold shares of the business. M&T Bank Corp boosted its position in Arvinas by 53.5% during the 3rd quarter. M&T Bank Corp now owns 27,137 shares of the company’s stock worth $669,000 after acquiring an additional 9,462 shares during the period. Barclays PLC boosted its position in Arvinas by 198.9% during the 3rd quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after acquiring an additional 80,984 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Arvinas by 36.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 90,870 shares of the company’s stock worth $2,238,000 after acquiring an additional 24,223 shares during the period. XTX Topco Ltd purchased a new stake in shares of Arvinas during the 3rd quarter worth about $453,000. Finally, Zacks Investment Management raised its stake in shares of Arvinas by 9.8% during the 3rd quarter. Zacks Investment Management now owns 89,827 shares of the company’s stock worth $2,212,000 after purchasing an additional 8,029 shares in 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.