Arvinas (NASDAQ:ARVN) Price Target Cut to $74.00 by Analysts at SVB Leerink

Arvinas (NASDAQ:ARVNGet Rating) had its target price lowered by SVB Leerink from $89.00 to $74.00 in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the company. Cantor Fitzgerald reaffirmed an overweight rating on shares of Arvinas in a research report on Wednesday, September 21st. Citigroup reduced their price target on Arvinas from $103.00 to $88.00 in a research report on Thursday, August 18th. Credit Suisse Group increased their price target on Arvinas to $81.00 in a research report on Tuesday, November 15th. Morgan Stanley reduced their price target on Arvinas from $63.00 to $57.00 and set an equal weight rating on the stock in a research report on Friday, November 11th. Finally, Oppenheimer reduced their price target on Arvinas from $108.00 to $102.00 and set an outperform rating on the stock in a research report on Monday, August 8th. Three investment analysts have 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 presently has an average rating of Moderate Buy and an average target price of $80.80.

Arvinas Trading Down 5.5 %

ARVN opened at $40.70 on Tuesday. The stock’s 50-day moving average price is $45.72 and its 200 day moving average price is $45.88. Arvinas has a 12-month low of $34.90 and a 12-month high of $83.40. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -8.55 and a beta of 1.89.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ARVN. Royal Bank of Canada grew its stake in Arvinas by 37.6% during the 3rd quarter. Royal Bank of Canada now owns 1,230 shares of the company’s stock worth $54,000 after buying an additional 336 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in Arvinas during the 2nd quarter worth approximately $57,000. Lazard Asset Management LLC purchased a new position in Arvinas during the 1st quarter worth approximately $57,000. Amundi purchased a new position in Arvinas during the 2nd quarter worth approximately $62,000. Finally, Federated Hermes Inc. grew its stake in Arvinas by 80,650.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,615 shares of the company’s stock worth $68,000 after buying an additional 1,613 shares during the last quarter. Hedge funds and other institutional investors own 91.20% of the company’s stock.

About Arvinas

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Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.

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