Arvinas’ (ARVN) “Buy” Rating Reiterated at Guggenheim

Guggenheim reissued their buy rating on shares of Arvinas (NASDAQ:ARVN) in a research report sent to investors on Thursday morning,Benzinga reports.

Several other research firms have also recently commented on ARVN. BTIG Research assumed coverage on shares of Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 target price for the company. HC Wainwright reissued a “buy” rating and set a $87.00 target price on shares of Arvinas in a research report on Wednesday. Oppenheimer lowered their price target on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. BMO Capital Markets decreased their price objective on Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.50.

Arvinas Price Performance

ARVN opened at $19.50 on Thursday. The company has a market capitalization of $1.34 billion, a PE ratio of -4.18 and a beta of 1.82. The business has a 50-day moving average of $25.52 and a 200-day moving average of $26.01. Arvinas has a fifty-two week low of $18.51 and a fifty-two week high of $53.08.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.20. The business had revenue of $102.40 million during the quarter, compared to the consensus estimate of $60.56 million. The company’s revenue for the quarter was up 196.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.18) earnings per share. On average, equities research analysts expect that Arvinas will post -3.22 earnings per share for the current fiscal year.

Institutional Trading of Arvinas

Large investors have recently modified their holdings of the stock. FMR LLC increased its stake in shares of Arvinas by 7.6% during the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after purchasing an additional 204,317 shares during the last quarter. Braidwell LP boosted its position in shares of Arvinas by 148.3% during the 3rd quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock valued at $31,637,000 after acquiring an additional 767,242 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its position 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. Candriam S.C.A. grew its position in Arvinas by 32.0% in the second quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock worth $16,250,000 after acquiring an additional 147,904 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Arvinas by 6.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 463,935 shares of the company’s stock worth $12,347,000 after purchasing an additional 29,635 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.