Arvinas (NASDAQ:ARVN) Receives “Outperform” Rating from BMO Capital Markets

Arvinas (NASDAQ:ARVN)‘s stock had its “outperform” rating restated by analysts at BMO Capital Markets in a report released on Wednesday,Benzinga reports. They currently have a $82.00 price target on the stock, down from their previous price target of $88.00. BMO Capital Markets’ price target would suggest a potential upside of 334.35% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Stifel Nicolaus dropped their price target on shares of Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays dropped their price target on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Stephens began coverage on shares of Arvinas in a research note on Monday, November 18th. They set an “overweight” rating and a $55.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research note on Friday, February 7th. Finally, BTIG Research began coverage on shares of Arvinas in a research note on Tuesday, December 10th. They set a “buy” rating and a $69.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.17.

Arvinas Price Performance

Shares of Arvinas stock traded up $1.20 on Wednesday, reaching $18.88. 336,015 shares of the company traded hands, compared to its average volume of 869,743. Arvinas has a 52 week low of $16.61 and a 52 week high of $53.08. The company has a 50 day moving average of $19.33 and a 200 day moving average of $23.36. The firm has a market capitalization of $1.30 billion, a PE ratio of -4.04 and a beta of 1.88.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.44. During the same quarter in the previous year, the firm earned ($2.53) EPS. As a group, analysts anticipate that Arvinas will post -3.22 earnings per share for the current year.

Hedge Funds Weigh In On Arvinas

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in shares of Arvinas by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after buying an additional 367,343 shares during the last quarter. Baker BROS. Advisors LP bought a new position in shares of Arvinas in the 3rd quarter worth $9,989,000. SG Americas Securities LLC increased its holdings in shares of Arvinas by 228.8% in the 4th quarter. SG Americas Securities LLC now owns 32,424 shares of the company’s stock worth $622,000 after buying an additional 22,564 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of Arvinas by 58.3% in the 3rd quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock worth $10,737,000 after buying an additional 160,510 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Arvinas by 198.9% in the 3rd quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after buying an additional 80,984 shares during the last quarter. Institutional investors own 95.19% of the company’s stock.

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.