Arvinas (NASDAQ:ARVN) Earns Buy Rating from HC Wainwright

Arvinas (NASDAQ:ARVN)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They presently have a $87.00 price target on the stock. HC Wainwright’s price objective would indicate a potential upside of 223.42% from the stock’s previous close.

Several other research analysts also recently commented on ARVN. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Wedbush reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Arvinas in a research note on Tuesday, July 30th. 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. Finally, Oppenheimer reduced their price target on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.92.

Arvinas Stock Performance

NASDAQ ARVN opened at $26.90 on Thursday. Arvinas has a 52-week low of $14.02 and a 52-week high of $53.08. The company has a fifty day moving average of $25.62 and a 200-day moving average of $27.84. The company has a market capitalization of $1.85 billion, a P/E ratio of -5.76 and a beta of 1.97.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.20. The business had revenue of $102.40 million for the quarter, compared to the consensus estimate of $60.56 million. During the same quarter in the previous year, the business earned ($1.18) earnings per share. The firm’s revenue was up 196.0% on a year-over-year basis. As a group, analysts forecast that Arvinas will post -3.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Arvinas

Several hedge funds have recently bought and sold shares of ARVN. Vanguard Group Inc. boosted its holdings 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 shares of 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 during the period. Candriam S.C.A. lifted its holdings in shares of Arvinas by 32.0% in the 2nd quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock worth $16,250,000 after buying an additional 147,904 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Arvinas by 6.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 463,935 shares of the company’s stock worth $12,347,000 after buying an additional 29,635 shares in the last quarter. Finally, Opaleye Management Inc. increased its stake in shares of Arvinas by 25.1% during the first quarter. Opaleye Management Inc. now owns 330,000 shares of the company’s stock valued at $13,622,000 after buying an additional 66,300 shares during the period. 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.