Wedbush Reaffirms Outperform Rating for Arvinas (NASDAQ:ARVN)

Arvinas (NASDAQ:ARVN)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a report issued on Tuesday,RTT News reports. They currently have a $57.00 target price on the stock. Wedbush’s target price would indicate a potential upside of 217.55% from the company’s previous close.

A number of other brokerages have also recently weighed in on ARVN. BMO Capital Markets dropped 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. Barclays decreased their price objective on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. HC Wainwright reiterated a “buy” rating and set a $87.00 price objective on shares of Arvinas in a research report on Wednesday, December 11th. Guggenheim restated a “buy” rating on shares of Arvinas in a report on Thursday, December 12th. Finally, BTIG Research initiated coverage on Arvinas in a report on Tuesday, December 10th. They set a “buy” rating and a $69.00 price target on the stock. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.58.

Arvinas Trading Up 1.5 %

Shares of NASDAQ ARVN opened at $17.95 on Tuesday. Arvinas has a twelve month low of $16.61 and a twelve month high of $53.08. The firm has a 50-day moving average of $19.18 and a two-hundred day moving average of $23.32. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -3.84 and a beta of 1.88.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.07) by $0.44. During the same quarter last year, the business posted ($2.53) earnings per share. As a group, research analysts predict that Arvinas will post -3.22 earnings per share for the current year.

Institutional Investors Weigh In On Arvinas

Large investors have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Arvinas during the 4th quarter worth $23,845,000. Braidwell LP grew its stake in shares of Arvinas by 148.3% in the third quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock worth $31,637,000 after acquiring an additional 767,242 shares during the last quarter. Baker BROS. Advisors LP bought a new position in Arvinas during the third quarter worth $9,989,000. JPMorgan Chase & Co. raised its stake in Arvinas by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock valued at $57,371,000 after purchasing an additional 367,343 shares during the last quarter. Finally, FMR LLC boosted its holdings in Arvinas by 7.6% in the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock valued at $71,023,000 after purchasing an additional 204,317 shares during the period. 95.19% of the stock is currently owned by institutional investors.

Arvinas Company Profile

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.