Oppenheimer Forecasts Strong Price Appreciation for Arvinas (NASDAQ:ARVN) Stock

Arvinas (NASDAQ:ARVN - Free Report) had its price target increased by Oppenheimer from $40.00 to $45.00 in a research report report published on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on ARVN. Wedbush reaffirmed an "outperform" rating and issued a $57.00 target price on shares of Arvinas in a report on Tuesday, February 11th. BTIG Research started coverage on Arvinas in a report on Tuesday, December 10th. They issued a "buy" rating and a $69.00 target price on the stock. Barclays reduced their target price on Arvinas from $48.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Guggenheim reissued a "buy" rating and set a $57.00 price objective on shares of Arvinas in a report on Wednesday. Finally, Stephens initiated coverage on Arvinas in a report on Monday, November 18th. They set an "overweight" rating and a $55.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $60.00.

Arvinas Price Performance

Arvinas stock traded up $0.64 during mid-day trading on Wednesday, reaching $18.31. 935,305 shares of the company were exchanged, compared to its average volume of 823,758. The company has a fifty day simple moving average of $18.88 and a 200-day simple moving average of $23.19. Arvinas has a 12 month low of $16.61 and a 12 month high of $53.08. The firm has a market cap of $1.26 billion, a PE ratio of -3.92 and a beta of 1.88.

Arvinas (NASDAQ:ARVN - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating analysts' consensus estimates of ($1.07) by $0.44. During the same period last year, the company posted ($2.53) earnings per share. Sell-side analysts anticipate that Arvinas will post -3.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ARVN. Exchange Traded Concepts LLC raised its position 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 acquiring an additional 1,798 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Arvinas in the 3rd quarter worth about $39,000. Assenagon Asset Management S.A. bought a new stake in Arvinas in the 3rd quarter valued at about $3,442,000. E. Ohman J or Asset Management AB increased its position in Arvinas by 20.1% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 29,830 shares of the company's stock valued at $735,000 after buying an additional 5,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Arvinas by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company's stock valued at $61,000 after buying an additional 440 shares in the last quarter. 95.19% of the stock is owned by institutional investors.

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.