Arvinas' (ARVN) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Arvinas (NASDAQ:ARVN - Free Report) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $87.00 price target on the stock.

Several other equities research analysts have also recently weighed in on ARVN. Barclays lowered 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. Wedbush restated an "outperform" rating and issued a $57.00 price objective on shares of Arvinas in a research report on Tuesday, July 30th. Oppenheimer decreased their price objective on Arvinas from $50.00 to $40.00 and set an "outperform" rating on the stock in a research report on Thursday. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Arvinas in a research report on Monday, September 9th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.92.

Arvinas Stock Down 4.4 %

NASDAQ:ARVN traded down $1.23 on Thursday, reaching $26.43. The stock had a trading volume of 726,851 shares, compared to its average volume of 720,068. The company has a market capitalization of $1.81 billion, a P/E ratio of -4.43 and a beta of 1.97. Arvinas has a 1-year low of $14.02 and a 1-year high of $53.08. The stock has a fifty day moving average price of $25.58 and a 200-day moving average price of $27.85.

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

Institutional Investors Weigh In On Arvinas

Several hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in Arvinas by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,570 shares of the company's stock worth $519,000 after acquiring an additional 1,060 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Arvinas by 3.8% during the 1st quarter. Principal Financial Group Inc. now owns 13,307 shares of the company's stock valued at $549,000 after purchasing an additional 486 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Arvinas in the 1st quarter valued at approximately $44,000. SG Americas Securities LLC increased its stake in Arvinas by 462.2% during the 1st quarter. SG Americas Securities LLC now owns 36,297 shares of the company's stock worth $1,498,000 after purchasing an additional 29,841 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Arvinas by 27.5% during the 1st quarter. Swiss National Bank now owns 114,100 shares of the company's stock worth $4,710,000 after buying an additional 24,600 shares during the period. 95.19% of the stock is currently owned by institutional investors and hedge funds.

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.