Piper Sandler Increases Arvinas (NASDAQ:ARVN) Price Target to $81.00

Arvinas (NASDAQ:ARVNGet Rating) had its price target lifted by Piper Sandler from $76.00 to $81.00 in a research note published on Tuesday morning, The Fly reports.

ARVN has been the subject of a number of other research reports. Morgan Stanley reduced their target price on Arvinas from $63.00 to $57.00 and set an equal weight rating for the company in a report on Friday, November 11th. Barclays initiated coverage on Arvinas in a report on Friday, September 9th. They issued an overweight rating and a $90.00 target price for the company. Citigroup reduced their target price on Arvinas from $103.00 to $88.00 in a report on Thursday, August 18th. HC Wainwright reduced their target price on Arvinas from $135.00 to $90.00 and set a buy rating for the company in a report on Friday, August 5th. Finally, SVB Leerink reduced their target price on Arvinas from $89.00 to $74.00 and set an outperform rating for the company in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Arvinas currently has a consensus rating of Moderate Buy and an average price target of $80.80.

Arvinas Stock Performance

Shares of NASDAQ:ARVN opened at $40.70 on Tuesday. Arvinas has a one year low of $34.90 and a one year high of $83.40. The stock has a fifty day moving average of $45.72 and a 200-day moving average of $45.88. The company has a market capitalization of $2.17 billion, a PE ratio of -8.55 and a beta of 1.89.

Hedge Funds Weigh In On Arvinas

Hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC acquired a new position in Arvinas during the first quarter worth $57,000. Royal Bank of Canada increased its position in Arvinas by 37.6% during the third 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. Amundi acquired a new position in Arvinas during the second quarter worth $62,000. SeaCrest Wealth Management LLC acquired a new position in Arvinas during the second quarter worth $57,000. Finally, Nisa Investment Advisors LLC increased its position in Arvinas by 25.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,384 shares of the company’s stock worth $69,000 after buying an additional 284 shares during the last quarter. 91.20% of the stock is owned by institutional investors and hedge funds.

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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