Arvinas (NASDAQ:ARVN) Trading 5.7% Higher – Still a Buy?

Arvinas, Inc. (NASDAQ:ARVN)’s share price was up 5.7% during mid-day trading on Thursday . The company traded as high as $23.99 and last traded at $23.99. Approximately 139,395 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 715,351 shares. The stock had previously closed at $22.69.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. Barclays dropped their target price on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Wedbush reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Arvinas in a report on Tuesday, July 30th. BMO Capital Markets cut their price objective on Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Stephens assumed coverage on Arvinas in a research note on Monday, November 18th. They issued an “overweight” rating and a $55.00 target price 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $61.08.

Arvinas Trading Up 3.0 %

The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -5.48 and a beta of 1.96. The firm has a 50 day moving average price of $25.63 and a two-hundred day moving average price of $27.05.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.88) by $0.20. The business had revenue of $102.40 million during the quarter, compared to analyst estimates of $60.56 million. During the same period in the previous year, the company earned ($1.18) EPS. Arvinas’s revenue was up 196.0% on a year-over-year basis. As a group, research analysts forecast that Arvinas, Inc. will post -3.32 earnings per share for the current year.

Institutional Trading of Arvinas

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Arvinas by 29.9% in the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock valued at $260,046,000 after purchasing an additional 1,448,166 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Arvinas by 14.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company’s stock worth $180,329,000 after buying an additional 536,295 shares in the last quarter. FMR LLC lifted its holdings in Arvinas by 7.6% in the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock worth $71,023,000 after buying an additional 204,317 shares in the last quarter. Braidwell LP boosted its position in Arvinas by 148.3% in the 3rd quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock valued at $31,637,000 after buying an additional 767,242 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC grew its stake in shares of Arvinas by 1.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,244,450 shares of the company’s stock valued at $30,651,000 after acquiring an additional 17,723 shares in the last quarter. Institutional investors and hedge funds 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.