Arvinas, Inc. (NASDAQ:ARVN) Stock Has Average Target Price of $14.55

Arvinas, Inc. (NASDAQ:ARVN) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $14.55.

Several equities research analysts have recently commented on the stock. Citigroup reduced their price target on shares of Arvinas from $24.00 to $21.00 and set a “buy” rating for the company in a report on Monday, August 10th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $11.00 price target (down from $15.00) on shares of Arvinas in a research report on Tuesday, August 4th. Wedbush increased their price objective on shares of Arvinas from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Morgan Stanley set a $10.00 price objective on shares of Arvinas in a research note on Monday, August 10th. Finally, BTIG Research reissued a “buy” rating and set a $18.00 price objective on shares of Arvinas in a report on Tuesday, August 4th.

Arvinas Trading Down 2.5%

ARVN opened at $7.45 on Thursday. The company has a market capitalization of $480.67 million, a price-to-earnings ratio of 74.51 and a beta of 1.80. Arvinas has a 12-month low of $6.97 and a 12-month high of $14.51. The business’s fifty day simple moving average is $8.56 and its 200-day simple moving average is $8.89.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, August 4th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of ($0.37) by $2.95. Arvinas had a return on equity of 1.91% and a net margin of 2.94%. The firm had revenue of $249.70 million during the quarter, compared to the consensus estimate of $60.71 million. During the same period in the previous year, the company posted ($0.84) earnings per share. The firm’s quarterly revenue was up 1014.7% on a year-over-year basis. On average, equities research analysts predict that Arvinas will post 0.05 EPS for the current year.

Institutional Trading of Arvinas

Hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Arvinas during the second quarter valued at about $48,000. Quantbot Technologies LP bought a new stake in shares of Arvinas in the 2nd quarter valued at about $85,000. Corient Private Wealth LP purchased a new position in shares of Arvinas in the 2nd quarter worth approximately $95,000. Pale Fire Capital SE purchased a new position in shares of Arvinas in the 2nd quarter worth approximately $99,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Arvinas in the 2nd quarter worth approximately $112,000. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Company Profile

Arvinas, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses its proprietary PROTAC targeted protein degradation platform to design small-molecule therapies intended to direct unwanted proteins to the cell’s natural disposal system.

Arvinas’ programs have primarily focused on oncology. Its lead investigational program, vepdegestrant (ARV-471), is an oral estrogen receptor degrader being developed for patients with estrogen receptor-positive, HER2-negative breast cancer.