Arvinas, Inc. (NASDAQ:ARVN) Receives $56.92 Consensus Target Price from Analysts

Arvinas, Inc. (NASDAQ:ARVN - Get Free Report) has been given an average recommendation of "Moderate Buy" by the fifteen research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $56.92.

Several equities analysts have recently weighed in on ARVN shares. Oppenheimer reduced 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, October 31st. Barclays reduced 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. HC Wainwright reaffirmed a "buy" rating and issued a $87.00 price objective on shares of Arvinas in a research note on Thursday, October 31st. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arvinas in a research report on Monday, September 9th. Finally, Wedbush restated an "outperform" rating and issued a $57.00 target price on shares of Arvinas in a research note on Tuesday, July 30th.

Arvinas Stock Performance

NASDAQ:ARVN traded down $0.24 on Thursday, hitting $27.75. 379,439 shares of the stock were exchanged, compared to its average volume of 598,508. Arvinas has a 52 week low of $14.02 and a 52 week high of $53.08. The company's 50-day moving average price is $25.70 and its 200 day moving average price is $27.60.

Arvinas (NASDAQ:ARVN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating analysts' consensus estimates of ($0.88) by $0.20. The company had revenue of $102.40 million during the quarter, compared to analyst estimates of $60.56 million. During the same quarter last year, the company posted ($1.18) EPS. The firm's quarterly revenue was up 196.0% on a year-over-year basis. Equities analysts predict that Arvinas will post -3.4 earnings per share for the current year.

Hedge Funds Weigh In On Arvinas

A number of large investors have recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Arvinas in the first quarter valued at approximately $44,000. Quest Partners LLC acquired a new position in Arvinas during the 2nd quarter worth approximately $42,000. nVerses Capital LLC bought a new stake in shares of Arvinas in the third quarter valued at approximately $39,000. Amalgamated Bank boosted its position in Arvinas by 29.6% during the second quarter. Amalgamated Bank now owns 2,223 shares of the company's stock valued at $59,000 after buying an additional 508 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Arvinas by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company's stock valued at $61,000 after purchasing an additional 440 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company's stock.

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.