Guggenheim Reaffirms “Buy” Rating for Arvinas (NASDAQ:ARVN)

Arvinas (NASDAQ:ARVN)‘s stock had its “buy” rating restated by Guggenheim in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $57.00 price target on the stock. Guggenheim’s price target indicates a potential upside of 222.58% from the stock’s previous close.

A number of other equities research analysts also recently commented on ARVN. BTIG Research began coverage on shares of Arvinas in a report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price target for the company. Stifel Nicolaus lowered their price target on shares of Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday. Oppenheimer lowered their price target on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. Finally, Wedbush reiterated an “outperform” rating and set a $57.00 price target on shares of Arvinas in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $59.58.

Arvinas Trading Down 1.6 %

NASDAQ:ARVN opened at $17.67 on Wednesday. The firm has a 50-day moving average price of $19.04 and a two-hundred day moving average price of $23.28. Arvinas has a twelve month low of $16.61 and a twelve month high of $53.08. The company has a market capitalization of $1.21 billion, a P/E ratio of -3.78 and a beta of 1.88.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.44. During the same quarter in the previous year, the company earned ($2.53) EPS. On average, equities research analysts predict that Arvinas will post -3.22 earnings per share for the current year.

Institutional Investors Weigh In On Arvinas

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in Arvinas by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after buying an additional 367,343 shares in the last quarter. Baker BROS. Advisors LP acquired a new position in Arvinas during the third quarter valued at approximately $9,989,000. SG Americas Securities LLC lifted its position in Arvinas by 228.8% during the fourth quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock valued at $622,000 after buying an additional 22,564 shares in the last quarter. Wasatch Advisors LP lifted its position in Arvinas by 58.3% during the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock valued at $10,737,000 after buying an additional 160,510 shares in the last quarter. Finally, Barclays PLC lifted its position in Arvinas by 198.9% during the third quarter. Barclays PLC now owns 121,699 shares of the company’s stock valued at $2,998,000 after buying an additional 80,984 shares in the last quarter. 95.19% of the stock is 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.