BMO Capital Markets Cuts Arvinas (NASDAQ:ARVN) Price Target to $88.00

Arvinas (NASDAQ:ARVN) had its target price trimmed by BMO Capital Markets from $90.00 to $88.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Barclays cut their price target on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Stephens initiated coverage on shares of Arvinas in a research report on Monday. They set an “overweight” rating and a $55.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $57.00 price target on shares of Arvinas in a research report on Tuesday, July 30th. Oppenheimer dropped their price objective on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.08.

Arvinas Price Performance

NASDAQ ARVN opened at $22.69 on Wednesday. Arvinas has a 1 year low of $20.28 and a 1 year high of $53.08. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -4.86 and a beta of 1.96. The company has a fifty day moving average price of $25.62 and a 200-day moving average price of $27.06.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.20. The company had revenue of $102.40 million during the quarter, compared to analysts’ expectations of $60.56 million. Arvinas’s quarterly revenue was up 196.0% compared to the same quarter last year. During the same period last year, the firm posted ($1.18) earnings per share. On average, research analysts anticipate that Arvinas will post -3.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Arvinas

Institutional investors and hedge funds have recently modified their holdings of the stock. nVerses Capital LLC bought a new position in shares of Arvinas during the third quarter valued at $39,000. Quest Partners LLC bought a new position in shares of Arvinas during the second quarter valued at $42,000. Amalgamated Bank increased its holdings in Arvinas by 29.6% in the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock worth $59,000 after buying an additional 508 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Arvinas by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after buying an additional 440 shares in the last quarter. Finally, Quantbot Technologies LP increased its holdings in Arvinas by 147.3% in the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock worth $108,000 after buying an additional 2,601 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors.

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.