Arvinas (NASDAQ:ARVN) Now Covered by Analysts at BTIG Research

Equities researchers at BTIG Research started coverage on shares of Arvinas (NASDAQ:ARVN) in a report released on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $69.00 price target on the stock. BTIG Research’s target price would suggest a potential upside of 206.12% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Oppenheimer cut their target price on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. BMO Capital Markets cut 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. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Stephens began coverage on shares of Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.50.

Arvinas Price Performance

Shares of NASDAQ:ARVN opened at $22.54 on Tuesday. The business’s 50 day simple moving average is $25.72 and its 200 day simple moving average is $26.23. Arvinas has a 1 year low of $21.17 and a 1 year high of $53.08. The company has a market capitalization of $1.55 billion, a P/E ratio of -4.83 and a beta of 1.82.

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 firm had revenue of $102.40 million for the quarter, compared to the consensus estimate of $60.56 million. The business’s revenue was up 196.0% on a year-over-year basis. During the same period last year, the company posted ($1.18) EPS. On average, sell-side analysts anticipate that Arvinas will post -3.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Arvinas

Institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Arvinas by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after acquiring an additional 440 shares in the last quarter. Amalgamated Bank increased its position in shares of Arvinas by 29.6% during the 2nd quarter. Amalgamated Bank now owns 2,223 shares of the company’s stock valued at $59,000 after purchasing an additional 508 shares during the last quarter. Edgestream Partners L.P. increased its holdings in Arvinas by 16.3% during the second quarter. Edgestream Partners L.P. now owns 9,311 shares of the company’s stock worth $248,000 after buying an additional 1,305 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Arvinas in the 2nd quarter worth approximately $42,000. Finally, nVerses Capital LLC purchased a new position in shares of Arvinas during the 3rd quarter valued at $39,000. 95.19% of the stock is owned by institutional investors and hedge funds.

About Arvinas

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.