Arvinas, Inc. (NASDAQ:ARVN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Arvinas, Inc. (NASDAQ:ARVN) has been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $63.50.

Several research firms have issued reports on ARVN. Stephens began coverage on Arvinas in a research report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price objective for the company. Guggenheim reaffirmed a “buy” rating on shares of Arvinas in a research note on Thursday, December 12th. Oppenheimer decreased their target price on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. BTIG Research assumed coverage on shares of Arvinas in a report on Tuesday, December 10th. They issued a “buy” rating and a $69.00 target price for the company. Finally, BMO Capital Markets cut their price target on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th.

Arvinas Price Performance

Arvinas stock opened at $18.05 on Tuesday. The stock has a market capitalization of $1.24 billion, a PE ratio of -3.87 and a beta of 1.87. Arvinas has a 12 month low of $17.08 and a 12 month high of $53.08. The business has a 50 day simple moving average of $21.42 and a 200-day simple moving average of $24.54.

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. As a group, equities research analysts anticipate that Arvinas will post -3.22 EPS for the current year.

Institutional Trading of Arvinas

Several hedge funds have recently added to or reduced their stakes in ARVN. FMR LLC boosted its stake in Arvinas by 7.6% during the third quarter. FMR LLC now owns 2,883,604 shares of the company’s stock valued at $71,023,000 after buying an additional 204,317 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Arvinas by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after purchasing an additional 367,343 shares during the last quarter. Braidwell LP raised its holdings in shares of Arvinas by 148.3% in the 3rd quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock worth $31,637,000 after purchasing an additional 767,242 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in Arvinas by 1.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,244,450 shares of the company’s stock valued at $30,651,000 after purchasing an additional 17,723 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Arvinas by 6.8% during the second quarter. Dimensional Fund Advisors LP now owns 463,935 shares of the company’s stock worth $12,347,000 after buying an additional 29,635 shares in the last quarter. 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.