Arvinas, Inc. (NASDAQ:ARVN) Receives $60.00 Consensus Price Target from Analysts

Arvinas, Inc. (NASDAQ:ARVN) has earned an average rating of “Buy” from the twelve analysts that are presently covering the company, MarketBeat.com reports. Twelve analysts have rated the stock with a buy rating. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $60.00.

ARVN has been the subject of several research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research report on Friday, February 7th. Oppenheimer upped their price objective on shares of Arvinas from $40.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, February 12th. Stifel Nicolaus dropped their price objective on shares of Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Barclays dropped their price objective on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Guggenheim reaffirmed a “buy” rating and set a $57.00 price objective on shares of Arvinas in a report on Wednesday, February 12th.

Arvinas Stock Performance

ARVN opened at $17.77 on Friday. The firm has a market cap of $1.22 billion, a P/E ratio of -6.42 and a beta of 1.88. The firm has a 50-day moving average of $18.49 and a 200 day moving average of $22.94. Arvinas has a fifty-two week low of $16.61 and a fifty-two week high of $51.51.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same quarter last year, the company earned ($2.53) earnings per share. Equities research analysts predict that Arvinas will post -3.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Arvinas

A number of institutional investors and hedge funds have recently modified their holdings of ARVN. Exchange Traded Concepts LLC lifted its holdings in shares of Arvinas by 37.0% in the third quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock worth $164,000 after buying an additional 1,798 shares in the last quarter. nVerses Capital LLC purchased a new stake in Arvinas in the third quarter valued at approximately $39,000. Assenagon Asset Management S.A. purchased a new stake in Arvinas in the third quarter valued at approximately $3,442,000. E. Ohman J or Asset Management AB raised its stake in Arvinas by 20.1% in the third quarter. E. Ohman J or Asset Management AB now owns 29,830 shares of the company’s stock valued at $735,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in 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 purchasing an additional 440 shares in the last quarter. 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.