Arvinas (NASDAQ:ARVN) Earns Buy Rating from HC Wainwright

by · The Markets Daily

Arvinas (NASDAQ:ARVN – Get Free Report)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They presently have a $87.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 223.42% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Oppenheimer lowered their price target on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday. Barclays lowered their target price on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. Finally, Wedbush reiterated an “outperform” rating and issued a $57.00 price objective on shares of Arvinas in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Arvinas has a consensus rating of “Moderate Buy” and an average price target of $56.92.

Check Out Our Latest Report on Arvinas

Arvinas Price Performance

NASDAQ:ARVN opened at $26.90 on Thursday. Arvinas has a one year low of $14.02 and a one year high of $53.08. The company has a market cap of $1.85 billion, a PE ratio of -5.76 and a beta of 1.97. The firm has a 50-day moving average of $25.62 and a 200-day moving average of $27.84.

Arvinas (NASDAQ:ARVN – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.20. The company had revenue of $102.40 million for the quarter, compared to the consensus estimate of $60.56 million. During the same period in the prior year, the firm posted ($1.18) earnings per share. The business’s revenue for the quarter was up 196.0% on a year-over-year basis. On average, equities research analysts expect that Arvinas will post -3.51 earnings per share for the current fiscal year.

Institutional Trading of Arvinas

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Arvinas by 29.9% in the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock worth $260,046,000 after purchasing an additional 1,448,166 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Arvinas by 14.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company’s stock valued at $180,329,000 after buying an additional 536,295 shares in the last quarter. Candriam S.C.A. grew its stake in Arvinas by 32.0% in the 2nd quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock valued at $16,250,000 after buying an additional 147,904 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Arvinas during the 3rd quarter valued at $3,442,000. Finally, Panagora Asset Management Inc. lifted its position in shares of Arvinas by 57.4% during the second quarter. Panagora Asset Management Inc. now owns 256,658 shares of the company’s stock worth $6,832,000 after acquiring an additional 93,568 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors.

Arvinas Company Profile

(Get Free Report)

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.

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