Analysts Set Arvinas, Inc. (NASDAQ:ARVN) Price Target at $61.13

Shares of Arvinas, Inc. (NASDAQ:ARVN) have been given a consensus rating of “Moderate Buy” by the sixteen ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $58.33.

A number of brokerages have commented on ARVN. Wedbush restated an “outperform” rating and set a $57.00 price objective on shares of Arvinas in a report on Tuesday, July 30th. HC Wainwright restated a “buy” rating and set a $87.00 price objective on shares of Arvinas in a report on Thursday. Stifel Nicolaus decreased their target price on shares of Arvinas from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a report on Wednesday. Finally, Barclays cut their target price on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday.

Arvinas Stock Down 3.5 %

Shares of NASDAQ ARVN opened at $25.84 on Tuesday. Arvinas has a 12-month low of $13.57 and a 12-month high of $53.08. The firm has a market cap of $1.77 billion, a PE ratio of -4.36 and a beta of 1.98. The company’s fifty day simple moving average is $27.74 and its 200 day simple moving average is $35.82.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.59. The company had revenue of $76.50 million for the quarter, compared to the consensus estimate of $33.27 million. During the same period last year, the company earned ($1.25) EPS. Arvinas’s revenue for the quarter was up 40.4% compared to the same quarter last year. On average, equities analysts predict that Arvinas will post -3.67 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Great Point Partners LLC bought a new position in shares of Arvinas in the fourth quarter worth $9,635,000. Boxer Capital LLC bought a new stake in shares of Arvinas during the fourth quarter valued at about $25,051,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Arvinas by 9.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 469,474 shares of the company’s stock worth $19,324,000 after buying an additional 39,484 shares in the last quarter. Rhenman & Partners Asset Management AB boosted its position in shares of Arvinas by 58.0% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 134,270 shares of the company’s stock valued at $5,527,000 after acquiring an additional 49,270 shares during the period. Finally, Nomura Asset Management Co. Ltd. purchased a new position in Arvinas during the fourth quarter valued at approximately $2,506,000. 95.19% of the stock is currently owned by hedge funds and other institutional investors.

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.