BMO Capital Markets Lowers Arvinas (NASDAQ:ARVN) Price Target to $88.00

Arvinas (NASDAQ:ARVN) had its target price cut by investment analysts at BMO Capital Markets from $90.00 to $88.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 250.88% from the company’s current price.

Several other research analysts also recently issued reports on ARVN. HC Wainwright reaffirmed a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research note on Thursday, October 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Oppenheimer lowered their price objective on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Barclays decreased their target price on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Wedbush reissued an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research report on Tuesday, July 30th. One equities research 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 presently has an average rating of “Moderate Buy” and a consensus target price of $61.08.

Arvinas Trading Up 10.5 %

ARVN stock opened at $25.08 on Wednesday. The stock has a market capitalization of $1.72 billion, a P/E ratio of -5.38 and a beta of 1.96. Arvinas has a 12 month low of $20.99 and a 12 month high of $53.08. The firm has a 50-day moving average price of $25.62 and a 200-day moving average price of $27.06.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.88) by $0.20. The firm 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 company earned ($1.18) EPS. The business’s quarterly revenue was up 196.0% compared to the same quarter last year. As a group, equities analysts predict that Arvinas will post -3.32 EPS for the current fiscal year.

Institutional Trading of Arvinas

Several large investors have recently modified their holdings of the stock. nVerses Capital LLC bought a new position in shares of Arvinas in the 3rd quarter worth $39,000. Quest Partners LLC bought a new position in shares of Arvinas in the 2nd quarter worth $42,000. Amalgamated Bank lifted its holdings in shares of Arvinas by 29.6% in the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after purchasing an additional 508 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Arvinas by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after purchasing an additional 440 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of Arvinas by 147.3% in the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after purchasing an additional 2,601 shares in the last quarter. Institutional investors and hedge funds 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.