Stephens Begins Coverage on Arvinas (NASDAQ:ARVN)

Research analysts at Stephens initiated coverage on shares of Arvinas (NASDAQ:ARVN) in a report issued on Monday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $55.00 price target on the stock. Stephens’ price target indicates a potential upside of 130.13% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Wedbush reaffirmed an “outperform” rating and set a $57.00 target price on shares of Arvinas in a research report on Tuesday, July 30th. HC Wainwright restated a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a report on Monday, September 9th. Oppenheimer dropped their price objective on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, Barclays dropped their target price on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Arvinas currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.62.

Arvinas Stock Up 6.3 %

ARVN stock opened at $23.90 on Monday. Arvinas has a twelve month low of $20.28 and a twelve month high of $53.08. The business’s fifty day simple moving average is $25.78 and its two-hundred day simple moving average is $27.24. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of -4.81 and a beta of 1.96.

Arvinas (NASDAQ:ARVN) last issued its earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.20. The company had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $60.56 million. During the same period last year, the business posted ($1.18) earnings per share. The business’s revenue was up 196.0% compared to the same quarter last year. Research analysts expect that Arvinas will post -3.32 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARVN. M&T Bank Corp raised its stake in shares of Arvinas by 53.5% during the 3rd quarter. M&T Bank Corp now owns 27,137 shares of the company’s stock valued at $669,000 after buying an additional 9,462 shares during the last quarter. Barclays PLC grew its holdings in Arvinas by 198.9% during the third quarter. Barclays PLC now owns 121,699 shares of the company’s stock worth $2,998,000 after acquiring an additional 80,984 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Arvinas by 36.3% during the third quarter. Nomura Asset Management Co. Ltd. now owns 90,870 shares of the company’s stock valued at $2,238,000 after acquiring an additional 24,223 shares in the last quarter. XTX Topco Ltd purchased a new position in Arvinas during the third quarter valued at approximately $453,000. Finally, Zacks Investment Management lifted its holdings in Arvinas by 9.8% in the third quarter. Zacks Investment Management now owns 89,827 shares of the company’s stock valued at $2,212,000 after acquiring an additional 8,029 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.