HC Wainwright Reaffirms “Buy” Rating for Arvinas (NASDAQ:ARVN)

Arvinas (NASDAQ:ARVN)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $87.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 340.73% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Oppenheimer cut their target price on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Stephens initiated coverage on Arvinas in a research report on Monday, November 18th. They issued an “overweight” rating and a $55.00 target price on the stock. BMO Capital Markets lowered their price target on Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Finally, BTIG Research assumed coverage on Arvinas in a research note on Tuesday. They issued a “buy” rating and a $69.00 price objective for the company. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $63.50.

Arvinas Trading Down 12.4 %

NASDAQ ARVN opened at $19.74 on Wednesday. Arvinas has a twelve month low of $19.67 and a twelve month high of $53.08. The stock has a 50-day moving average of $25.63 and a 200 day moving average of $26.18. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -4.23 and a beta of 1.82.

Arvinas (NASDAQ:ARVN) last announced its earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share (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 analysts’ expectations of $60.56 million. The company’s quarterly revenue was up 196.0% on a year-over-year basis. During the same quarter last year, the business earned ($1.18) EPS. Equities analysts predict that Arvinas will post -3.22 EPS for the current fiscal year.

Institutional Trading of Arvinas

Several large investors have recently added to or reduced their stakes in ARVN. Franklin Resources Inc. grew its holdings in shares of Arvinas by 11.6% during the 3rd quarter. Franklin Resources Inc. now owns 69,190 shares of the company’s stock worth $1,776,000 after purchasing an additional 7,166 shares during the period. M&T Bank Corp lifted its position in Arvinas by 53.5% in the third quarter. M&T Bank Corp now owns 27,137 shares of the company’s stock valued at $669,000 after buying an additional 9,462 shares during the last quarter. Barclays PLC boosted its stake in Arvinas by 198.9% during the third quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after buying an additional 80,984 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of Arvinas by 36.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 90,870 shares of the company’s stock valued at $2,238,000 after acquiring an additional 24,223 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Arvinas in the 3rd quarter valued at approximately $453,000. 95.19% of the stock is currently owned by hedge funds and other 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.