Arvinas, Inc. (NASDAQ:ARVN) Given Average Rating of “Moderate Buy” by Brokerages

Arvinas, Inc. (NASDAQ:ARVN) has received an average recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $58.33.

ARVN has been the subject of several recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $87.00 price target on shares of Arvinas in a report on Thursday, August 1st. Oppenheimer dropped their target price on shares of Arvinas from $70.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Wells Fargo & Company cut their price target on shares of Arvinas from $63.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Wedbush reiterated an “outperform” rating and set a $57.00 price objective on shares of Arvinas in a research note on Tuesday, July 30th. Finally, Barclays cut their target price on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st.

Arvinas Stock Up 0.5 %

NASDAQ:ARVN opened at $26.16 on Friday. The firm has a 50 day moving average of $26.50 and a 200 day moving average of $33.52. Arvinas has a 52 week low of $13.57 and a 52 week high of $53.08. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -4.41 and a beta of 1.98.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($1.08) by $0.59. The business had revenue of $76.50 million for the quarter, compared to analysts’ expectations of $33.27 million. The business’s revenue for the quarter was up 40.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.25) EPS. As a group, analysts expect that Arvinas will post -3.67 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ARVN. International Assets Investment Management LLC acquired a new stake in shares of Arvinas during the 4th quarter worth approximately $2,202,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Arvinas by 39.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 11,510 shares of the company’s stock worth $474,000 after buying an additional 3,274 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Arvinas by 21.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,033 shares of the company’s stock worth $372,000 after buying an additional 1,611 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Arvinas by 32.4% during the 4th quarter. Federated Hermes Inc. now owns 138,028 shares of the company’s stock worth $5,681,000 after buying an additional 33,770 shares during the last quarter. Finally, Handelsbanken Fonder AB acquired a new stake in shares of Arvinas during the 4th quarter worth approximately $483,000. 95.19% of the stock is 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.