Stifel Nicolaus Cuts Arvinas (NASDAQ:ARVN) Price Target to $51.00

Arvinas (NASDAQ:ARVN) had its price target decreased by stock analysts at Stifel Nicolaus from $63.00 to $51.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 188.46% from the stock’s current price.

Other analysts have also recently issued reports about the company. BMO Capital Markets cut their price objective on Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 20th. Oppenheimer reduced their price target on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Wedbush reissued an “outperform” rating and set a $57.00 price objective on shares of Arvinas in a research report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research report on Friday, February 7th. Finally, HC Wainwright reissued a “buy” rating and set a $87.00 price objective on shares of Arvinas in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.91.

Arvinas Stock Down 6.8 %

Shares of Arvinas stock opened at $17.68 on Wednesday. The company has a market cap of $1.21 billion, a PE ratio of -3.79 and a beta of 1.88. The business has a 50 day moving average of $19.33 and a 200 day moving average of $23.36. Arvinas has a 52 week low of $16.61 and a 52 week high of $53.08.

Arvinas (NASDAQ:ARVN) last posted its earnings results on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.44. During the same quarter in the previous year, the firm earned ($2.53) earnings per share. On average, research analysts anticipate that Arvinas will post -3.22 earnings per share for the current year.

Institutional Investors Weigh In On Arvinas

Several institutional investors have recently modified their holdings of ARVN. nVerses Capital LLC bought a new position in Arvinas during the 3rd quarter valued at about $39,000. KBC Group NV raised its holdings in shares of Arvinas by 77.0% during the fourth quarter. KBC Group NV now owns 2,885 shares of the company’s stock valued at $55,000 after purchasing an additional 1,255 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Arvinas by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after purchasing an additional 440 shares during the period. Quantbot Technologies LP boosted its holdings in Arvinas by 147.3% in the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after purchasing an additional 2,601 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its position in Arvinas by 37.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock worth $164,000 after purchasing an additional 1,798 shares during the period. 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.