Arvinas (NASDAQ:ARVN) Price Target Cut to $100.00

Arvinas (NASDAQ:ARVNGet Rating) had its target price dropped by stock analysts at Truist Financial from $170.00 to $100.00 in a research report issued on Wednesday, The Fly reports. Truist Financial’s target price indicates a potential upside of 152.78% from the company’s previous close.

ARVN has been the topic of several other reports. Capital One Financial began coverage on Arvinas in a report on Tuesday, October 25th. They issued an “overweight” rating on the stock. Citigroup reduced their price objective on Arvinas from $103.00 to $88.00 in a report on Thursday, August 18th. Cantor Fitzgerald cut their price target on Arvinas from $106.00 to $90.00 in a research note on Wednesday. Morgan Stanley lowered their price objective on shares of Arvinas from $63.00 to $57.00 and set an “equal weight” rating for the company in a research report on Friday, November 11th. Finally, Oppenheimer lowered their price objective on shares of Arvinas from $108.00 to $102.00 and set an “outperform” rating for the company in a research report on Monday, August 8th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.19.

Arvinas Trading Down 2.8 %

ARVN opened at $39.56 on Wednesday. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -8.31 and a beta of 1.89. Arvinas has a 1 year low of $34.90 and a 1 year high of $83.40. The stock has a fifty day moving average price of $45.35 and a 200 day moving average price of $45.79.

Arvinas (NASDAQ:ARVNGet Rating) last posted its quarterly earnings data on Tuesday, November 8th. The company reported ($1.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.26). The business had revenue of $30.30 million during the quarter, compared to the consensus estimate of $44.20 million. Arvinas had a negative return on equity of 36.12% and a negative net margin of 225.34%. As a group, sell-side analysts forecast that Arvinas will post -4.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arvinas

A number of hedge funds have recently modified their holdings of the business. FMR LLC lifted its holdings in shares of Arvinas by 2.3% during the second quarter. FMR LLC now owns 7,363,193 shares of the company’s stock worth $309,917,000 after purchasing an additional 167,390 shares during the period. Vanguard Group Inc. lifted its holdings in Arvinas by 2.9% in the third quarter. Vanguard Group Inc. now owns 4,180,065 shares of the company’s stock valued at $185,971,000 after buying an additional 116,877 shares during the period. BlackRock Inc. lifted its holdings in Arvinas by 0.9% in the third quarter. BlackRock Inc. now owns 3,706,508 shares of the company’s stock valued at $164,901,000 after buying an additional 31,339 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Arvinas by 5.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,267,570 shares of the company’s stock valued at $137,532,000 after buying an additional 160,860 shares during the period. Finally, Bellevue Group AG lifted its holdings in Arvinas by 3.1% in the third quarter. Bellevue Group AG now owns 2,190,762 shares of the company’s stock valued at $97,467,000 after buying an additional 66,486 shares during the period. Institutional investors and hedge funds own 91.20% of the company’s stock.

Arvinas Company Profile

(Get Rating)

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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