Arvinas (NASDAQ:ARVN) Rating Reiterated by HC Wainwright

HC Wainwright reiterated their buy rating on shares of Arvinas (NASDAQ:ARVN) in a report published on Thursday, Benzinga reports. They currently have a $87.00 price objective on the stock.

A number of other research firms have also recently issued reports on ARVN. Stifel Nicolaus lowered their target price on Arvinas from $72.00 to $68.00 and set a buy rating for the company in a report on Wednesday, May 8th. Wells Fargo & Company dropped their target price on Arvinas from $63.00 to $60.00 and set an overweight rating on the stock in a report on Thursday, May 9th. Barclays dropped their target price on shares of Arvinas from $60.00 to $48.00 and set an overweight rating on the stock in a report on Wednesday, July 31st. Wedbush reissued an outperform rating and set a $57.00 price target on shares of Arvinas in a research report on Tuesday, July 30th. Finally, Oppenheimer reduced their target price on Arvinas from $70.00 to $50.00 and set an outperform rating for the company in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $58.33.

Arvinas Stock Performance

Arvinas stock traded down $2.20 during trading hours on Thursday, hitting $23.64. 1,125 shares of the stock were exchanged, compared to its average volume of 775,675. Arvinas has a 12 month low of $13.57 and a 12 month high of $53.08. The business’s 50-day moving average is $27.74 and its two-hundred day moving average is $35.80. The stock has a market capitalization of $1.62 billion, a P/E ratio of -4.36 and a beta of 1.98.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Tuesday, July 30th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.59. The company had revenue of $76.50 million for the quarter, compared to analyst estimates of $33.27 million. During the same quarter in the previous year, the company posted ($1.25) earnings per share. Arvinas’s revenue for the quarter was up 40.4% on a year-over-year basis. On average, equities analysts predict that Arvinas will post -3.67 earnings per share for the current fiscal year.

Institutional Trading of Arvinas

A number of large investors have recently added to or reduced their stakes in ARVN. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Arvinas in the first quarter worth about $44,000. Headlands Technologies LLC boosted its holdings in shares of Arvinas by 393.4% in the 4th quarter. Headlands Technologies LLC now owns 2,388 shares of the company’s stock worth $98,000 after purchasing an additional 1,904 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of Arvinas during the 2nd quarter valued at about $185,000. Personal CFO Solutions LLC bought a new stake in Arvinas in the 4th quarter worth approximately $206,000. Finally, Cullinan Associates Inc. purchased a new stake in Arvinas in the first quarter worth approximately $248,000. Hedge funds and other institutional investors 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.