Oppenheimer Forecasts Strong Price Appreciation for Arvinas (NASDAQ:ARVN) Stock

Arvinas (NASDAQ:ARVN) had its price objective boosted by Oppenheimer from $40.00 to $45.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently weighed in on ARVN. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. Guggenheim reaffirmed a “buy” rating and set a $57.00 target price on shares of Arvinas in a research note on Wednesday. Barclays decreased their price target on Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. BTIG Research began coverage on Arvinas in a report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price target on the stock. Finally, Stephens began coverage on shares of Arvinas in a report on Monday, November 18th. They issued an “overweight” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Arvinas currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.58.

Arvinas Price Performance

Shares of NASDAQ ARVN opened at $17.95 on Wednesday. The firm has a market capitalization of $1.23 billion, a PE ratio of -3.84 and a beta of 1.88. Arvinas has a 1-year low of $16.61 and a 1-year high of $53.08. The business’s fifty day moving average price is $19.18 and its two-hundred day moving average price is $23.32.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.44. During the same quarter last year, the firm posted ($2.53) earnings per share. Equities research analysts expect that Arvinas will post -3.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arvinas

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