Arvinas (NASDAQ:ARVN) Stock Rating Reaffirmed by Cantor Fitzgerald

Arvinas (NASDAQ:ARVN)‘s stock had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald in a note issued to investors on Wednesday, Benzinga reports.

ARVN has been the topic of a number of other reports. HC Wainwright reissued a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research report on Friday, May 17th. Barclays dropped their target price on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday. Oppenheimer lowered their price objective on Arvinas from $70.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday. Stifel Nicolaus cut their target price on Arvinas from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Finally, Wedbush restated an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research note on Tuesday. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.33.

Arvinas Stock Up 2.3 %

ARVN stock traded up $0.63 during midday trading on Wednesday, hitting $27.72. The company’s stock had a trading volume of 237,232 shares, compared to its average volume of 774,090. The firm has a 50-day simple moving average of $28.26 and a 200-day simple moving average of $36.04. The firm has a market capitalization of $1.90 billion, a P/E ratio of -4.63 and a beta of 1.98. Arvinas has a 52-week low of $13.57 and a 52-week high of $53.08.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, July 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.08) by $0.59. The company had revenue of $76.50 million during the quarter, compared to analysts’ expectations of $33.27 million. During the same quarter in the previous year, the business posted ($1.25) EPS. The business’s quarterly revenue was up 40.4% compared to the same quarter last year. On average, sell-side analysts expect that Arvinas will post -4.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arvinas

Hedge funds have recently modified their holdings of the stock. American International Group Inc. raised its position in Arvinas by 1.8% during the 1st quarter. American International Group Inc. now owns 24,857 shares of the company’s stock worth $1,026,000 after buying an additional 449 shares during the last quarter. Principal Financial Group Inc. boosted its position in Arvinas by 3.8% during the first quarter. Principal Financial Group Inc. now owns 13,307 shares of the company’s stock worth $549,000 after purchasing an additional 486 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Arvinas by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,570 shares of the company’s stock worth $519,000 after buying an additional 1,060 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Arvinas in the first quarter valued at approximately $44,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Arvinas by 21.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,033 shares of the company’s stock worth $372,000 after purchasing an additional 1,611 shares in the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

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.