Analysts Set Arvinas, Inc. (NASDAQ:ARVN) Price Target at $16.79

Arvinas, Inc. (NASDAQ:ARVN) has earned a consensus rating of “Hold” from the twenty-one ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $16.7895.

A number of brokerages have recently issued reports on ARVN. Stephens boosted their price objective on shares of Arvinas from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, November 10th. The Goldman Sachs Group restated a “sell” rating and issued a $6.00 price target (down previously from $8.00) on shares of Arvinas in a research report on Wednesday, October 15th. Barclays lifted their price objective on Arvinas from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th. BTIG Research raised their target price on shares of Arvinas from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Wells Fargo & Company lowered their price target on shares of Arvinas from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th.

Arvinas Stock Up 4.0%

Arvinas stock opened at $13.48 on Friday. Arvinas has a 52-week low of $5.90 and a 52-week high of $20.38. The company has a market cap of $865.69 million, a P/E ratio of -16.64 and a beta of 1.88. The business has a 50-day simple moving average of $12.43 and a two-hundred day simple moving average of $10.05.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.27. Arvinas had a negative net margin of 18.73% and a negative return on equity of 9.77%. The firm had revenue of $41.90 million for the quarter, compared to analysts’ expectations of $29.36 million. During the same quarter in the prior year, the business earned ($0.68) EPS. The business’s quarterly revenue was down 59.1% on a year-over-year basis. Research analysts anticipate that Arvinas will post -3.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Arvinas

A number of institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its stake in shares of Arvinas by 491.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,819 shares of the company’s stock worth $43,000 after acquiring an additional 4,835 shares during the period. Canada Pension Plan Investment Board boosted its stake in Arvinas by 109.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 6,700 shares of the company’s stock worth $49,000 after purchasing an additional 3,500 shares during the period. State of Wyoming purchased a new stake in Arvinas during the 3rd quarter valued at approximately $68,000. Public Employees Retirement System of Ohio bought a new stake in shares of Arvinas during the second quarter valued at approximately $74,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Arvinas in the third quarter worth $92,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Company Profile

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.