Arvinas (NASDAQ:ARVN) Given “Buy” Rating at Guggenheim

Guggenheim reaffirmed their buy rating on shares of Arvinas (NASDAQ:ARVN) in a report released on Wednesday morning,Benzinga reports. Guggenheim currently has a $57.00 target price on the stock.

A number of other research firms have also commented on ARVN. Stifel Nicolaus lowered their price objective on Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a research note on Wednesday. HC Wainwright reissued a “buy” rating and set a $87.00 target price on shares of Arvinas in a report on Wednesday, December 11th. BMO Capital Markets dropped their price target on Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Stephens started coverage on shares of Arvinas in a research note on Monday, November 18th. They set an “overweight” rating and a $55.00 price objective on the stock. Finally, Oppenheimer decreased their target price on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Arvinas presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.58.

Arvinas Stock Performance

ARVN stock opened at $17.95 on Wednesday. Arvinas has a 52 week low of $16.61 and a 52 week high of $53.08. The company has a market capitalization of $1.23 billion, a PE ratio of -3.84 and a beta of 1.88. The company’s 50-day simple moving average is $19.18 and its 200 day simple moving average is $23.32.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.44. During the same quarter in the prior year, the company posted ($2.53) earnings per share. On average, analysts forecast that Arvinas will post -3.22 EPS for the current year.

Institutional Investors Weigh In On Arvinas

Several hedge funds and other institutional investors have recently made changes to their positions in ARVN. Exchange Traded Concepts LLC boosted its position in Arvinas by 37.0% in the third quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock valued at $164,000 after buying an additional 1,798 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Arvinas in the 3rd quarter valued at $39,000. Assenagon Asset Management S.A. acquired a new stake in shares of Arvinas during the 3rd quarter valued at $3,442,000. E. Ohman J or Asset Management AB grew its position in Arvinas by 20.1% during the 3rd quarter. E. Ohman J or Asset Management AB now owns 29,830 shares of the company’s stock worth $735,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings 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 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.