Oppenheimer Lowers Arvinas (NASDAQ:ARVN) Price Target to $40.00

Arvinas (NASDAQ:ARVNGet Free Report) had its target price cut by investment analysts at Oppenheimer from $50.00 to $40.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 48.26% from the company’s previous close.

Several other research firms have also weighed in on ARVN. Wedbush reaffirmed an “outperform” rating and set a $57.00 target price on shares of Arvinas in a report on Tuesday, July 30th. Barclays cut their price objective on shares of Arvinas from $60.00 to $48.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. HC Wainwright reiterated a “buy” rating and issued a $87.00 price objective on shares of Arvinas in a research report on Thursday, August 1st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research report on Monday, September 9th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.92.

View Our Latest Stock Report on Arvinas

Arvinas Stock Performance

NASDAQ:ARVN opened at $26.98 on Thursday. The firm’s fifty day moving average is $25.53 and its two-hundred day moving average is $27.85. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -4.66 and a beta of 1.97. Arvinas has a one year low of $14.02 and a one year high of $53.08.

Arvinas (NASDAQ:ARVNGet Free Report) last posted its earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.88) by $0.20. The company had revenue of $102.40 million for the quarter, compared to analyst estimates of $60.56 million. The firm’s revenue was up 196.0% on a year-over-year basis. During the same period last year, the business earned ($1.18) earnings per share. As a group, equities research analysts predict that Arvinas will post -3.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Arvinas

Several hedge funds and other institutional investors have recently made changes to their positions in ARVN. Allspring Global Investments Holdings LLC grew its holdings in shares of Arvinas by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,570 shares of the company’s stock worth $519,000 after buying an additional 1,060 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Arvinas by 3.8% in the 1st quarter. Principal Financial Group Inc. now owns 13,307 shares of the company’s stock valued at $549,000 after acquiring an additional 486 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Arvinas in the 1st quarter worth approximately $44,000. SG Americas Securities LLC boosted its holdings in shares of Arvinas by 462.2% during the 1st quarter. SG Americas Securities LLC now owns 36,297 shares of the company’s stock worth $1,498,000 after purchasing an additional 29,841 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of Arvinas by 27.5% in the first quarter. Swiss National Bank now owns 114,100 shares of the company’s stock valued at $4,710,000 after purchasing an additional 24,600 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

About Arvinas

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Arvinas (NASDAQ:ARVN)

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