Arvinas (NASDAQ:ARVN) Price Target Lowered to $40.00 at Oppenheimer

Arvinas (NASDAQ:ARVN - Get Free Report) had its price target decreased by equities research analysts at Oppenheimer from $50.00 to $40.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's target price would indicate a potential upside of 51.34% from the company's current price.

A number of other equities research analysts also recently commented on the stock. Cantor Fitzgerald restated an "overweight" rating on shares of Arvinas in a research report on Monday, September 9th. Wedbush restated an "outperform" rating and issued a $57.00 price objective on shares of Arvinas in a research report on Tuesday, July 30th. HC Wainwright restated a "buy" rating and issued a $87.00 price objective on shares of Arvinas in a research report on Thursday, August 1st. Finally, Barclays reduced their price objective on shares of Arvinas from $60.00 to $48.00 and set an "overweight" rating for the company in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $56.92.

Arvinas Trading Down 4.4 %

Shares of NASDAQ ARVN traded down $1.23 during midday trading on Thursday, reaching $26.43. 726,149 shares of the company were exchanged, compared to its average volume of 720,065. Arvinas has a 1 year low of $14.02 and a 1 year high of $53.08. The stock has a fifty day simple moving average of $25.58 and a 200 day simple moving average of $27.85. The stock has a market cap of $1.81 billion, a P/E ratio of -4.43 and a beta of 1.97.

Arvinas (NASDAQ:ARVN - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.88) by $0.20. The company had revenue of $102.40 million for the quarter, compared to analysts' expectations of $60.56 million. The business's quarterly revenue was up 196.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.18) EPS. As a group, analysts forecast that Arvinas will post -3.51 earnings per share for the current year.

Hedge Funds Weigh In On Arvinas

Several hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC acquired a new position in Arvinas in the 3rd quarter worth $39,000. Quest Partners LLC bought a new stake in shares of Arvinas during the 2nd quarter valued at about $42,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Arvinas during the 1st quarter valued at about $44,000. Amalgamated Bank grew its position in shares of Arvinas by 29.6% during the 2nd 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 last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew 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 worth $61,000 after purchasing an additional 440 shares during the last quarter. Institutional investors and hedge funds own 95.19% of the company's stock.

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.