Arvinas (NASDAQ:ARVN) Receives Buy Rating from Guggenheim

Arvinas (NASDAQ:ARVN - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Guggenheim in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $57.00 target price on the stock. Guggenheim's target price would suggest a potential upside of 211.31% from the company's current price.

A number of other equities research analysts have also issued reports on ARVN. Barclays cut their price target on shares of Arvinas from $48.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Stephens assumed coverage on shares of Arvinas in a research report on Monday, November 18th. They issued an "overweight" rating and a $55.00 target price for the company. Stifel Nicolaus decreased their price objective on shares of Arvinas from $63.00 to $51.00 and set a "buy" rating for the company in a report on Wednesday. BTIG Research assumed coverage on shares of Arvinas in a report on Tuesday, December 10th. They issued a "buy" rating and a $69.00 price target for the company. Finally, BMO Capital Markets reduced their price target on shares of Arvinas from $90.00 to $88.00 and set an "outperform" rating for the company in a report on Wednesday, November 20th. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $60.00.

Arvinas Stock Up 3.6 %

Shares of ARVN traded up $0.64 during mid-day trading on Wednesday, reaching $18.31. 935,305 shares of the company's stock were exchanged, compared to its average volume of 823,758. Arvinas has a 52-week low of $16.61 and a 52-week high of $53.08. The company has a 50-day simple moving average of $18.88 and a two-hundred day simple moving average of $23.19. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -3.92 and a beta of 1.88.

Arvinas (NASDAQ:ARVN - Get Free Report) last posted its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.44. During the same quarter last year, the business posted ($2.53) EPS. As a group, equities research analysts predict that Arvinas will post -3.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Arvinas

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC purchased a new stake in shares of Arvinas in the third quarter worth $39,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Arvinas by 21.5% during the 3rd 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 during the period. KBC Group NV grew its holdings in Arvinas by 77.0% during the 4th quarter. KBC Group NV now owns 2,885 shares of the company's stock valued at $55,000 after buying an additional 1,255 shares in the last quarter. Quantbot Technologies LP grew its holdings in Arvinas by 147.3% during the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company's stock valued at $108,000 after buying an additional 2,601 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Arvinas by 37.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company's stock worth $164,000 after purchasing an additional 1,798 shares during the period. 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.