Arvinas’ (ARVN) Outperform Rating Reaffirmed at BMO Capital Markets

Arvinas (NASDAQ:ARVN)‘s stock had its “outperform” rating reiterated by BMO Capital Markets in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $82.00 target price on the stock, down from their previous target price of $88.00. BMO Capital Markets’ price objective indicates a potential upside of 364.06% from the stock’s current price.

ARVN has been the subject of a number of other reports. Guggenheim reissued a “buy” rating and set a $57.00 price objective on shares of Arvinas in a report on Wednesday. Stifel Nicolaus cut their price objective on Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday. Barclays cut their price objective on Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $87.00 price target on shares of Arvinas in a report on Wednesday, December 11th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Arvinas in a report on Tuesday. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.58.

Arvinas Price Performance

Shares of ARVN stock opened at $17.67 on Wednesday. The stock has a market cap of $1.21 billion, a P/E ratio of -3.78 and a beta of 1.88. The stock has a fifty day moving average price of $19.04 and a 200 day moving average price of $23.28. Arvinas has a one year low of $16.61 and a one year high of $53.08.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.44. During the same period in the prior year, the firm earned ($2.53) EPS. Equities research analysts anticipate that Arvinas will post -3.22 EPS for the current year.

Institutional Trading of Arvinas

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new stake in Arvinas in the fourth quarter worth about $332,000. Marshall Wace LLP increased its position in Arvinas by 57.3% in the fourth quarter. Marshall Wace LLP now owns 268,026 shares of the company’s stock worth $5,138,000 after purchasing an additional 97,676 shares during the period. Affinity Asset Advisors LLC increased its position in Arvinas by 180.0% in the fourth quarter. Affinity Asset Advisors LLC now owns 630,000 shares of the company’s stock worth $12,077,000 after purchasing an additional 405,000 shares during the period. New Leaf Venture Partners L.L.C. increased its position in Arvinas by 10.5% in the fourth quarter. New Leaf Venture Partners L.L.C. now owns 1,585,721 shares of the company’s stock worth $30,398,000 after purchasing an additional 151,000 shares during the period. Finally, XTX Topco Ltd increased its position in Arvinas by 44.6% in the fourth quarter. XTX Topco Ltd now owns 26,599 shares of the company’s stock worth $510,000 after purchasing an additional 8,198 shares during the period. 95.19% of the stock is currently 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.