Arvinas (NASDAQ:ARVN) Given "Outperform" Rating at BMO Capital Markets

BMO Capital Markets reissued their outperform rating on shares of Arvinas (NASDAQ:ARVN - Free Report) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $82.00 price objective on the stock, down from their prior price objective of $88.00.

A number of other analysts also recently issued reports on ARVN. Guggenheim reissued a "buy" rating and set a $57.00 target price on shares of Arvinas in a research report on Wednesday. Oppenheimer lowered their price objective on shares of Arvinas from $50.00 to $40.00 and set an "outperform" rating for the company in a research report on Thursday, October 31st. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Arvinas in a research report on Friday, February 7th. Wedbush reaffirmed an "outperform" rating and issued a $57.00 price objective on shares of Arvinas in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus lowered their price objective on shares of Arvinas from $63.00 to $51.00 and set a "buy" rating for the company in a research report on Wednesday. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Arvinas currently has an average rating of "Buy" and an average target price of $60.00.

Arvinas Stock Performance

ARVN traded up $0.64 during trading on Wednesday, hitting $18.31. The stock had a trading volume of 935,305 shares, compared to its average volume of 823,758. Arvinas has a twelve month low of $16.61 and a twelve month high of $53.08. The firm has a market capitalization of $1.26 billion, a P/E ratio of -3.92 and a beta of 1.88. The company's 50-day moving average price is $18.88 and its 200 day moving average price is $23.19.

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

Hedge Funds Weigh In On Arvinas

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in Arvinas by 18.7% during the third quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company's stock worth $57,371,000 after purchasing an additional 367,343 shares during the last quarter. Baker BROS. Advisors LP bought a new position in Arvinas during the third quarter worth $9,989,000. SG Americas Securities LLC lifted its stake in Arvinas by 228.8% during the fourth quarter. SG Americas Securities LLC now owns 32,424 shares of the company's stock worth $622,000 after purchasing an additional 22,564 shares during the last quarter. Wasatch Advisors LP lifted its stake in Arvinas by 58.3% during the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company's stock worth $10,737,000 after purchasing an additional 160,510 shares during the last quarter. Finally, Barclays PLC lifted its stake in Arvinas by 198.9% during the third quarter. Barclays PLC now owns 121,699 shares of the company's stock worth $2,998,000 after purchasing an additional 80,984 shares during the last quarter. 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.