Arvinas (NASDAQ:ARVN) Upgraded by Guggenheim to “Buy”

Guggenheim upgraded shares of Arvinas (NASDAQ:ARVN) from a neutral rating to a buy rating in a report issued on Monday, Marketbeat.com reports. They currently have $40.00 price target on the stock.

Other analysts have also issued reports about the stock. Wedbush upgraded shares of Arvinas from a neutral rating to an outperform rating and reduced their price objective for the company from $27.00 to $24.00 in a report on Monday, October 23rd. Stifel Nicolaus dropped their target price on Arvinas from $46.00 to $42.00 and set a buy rating for the company in a research report on Wednesday, November 8th. Cantor Fitzgerald reiterated an overweight rating and set a $70.00 target price on shares of Arvinas in a report on Thursday, September 7th. Morgan Stanley reduced their price objective on Arvinas from $32.00 to $20.00 and set an equal weight rating on the stock in a research note on Monday, November 13th. Finally, Piper Sandler decreased their price objective on Arvinas from $70.00 to $55.00 and set an overweight rating for the company in a research note on Monday, October 23rd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $55.20.

Arvinas Trading Up 4.1 %

NASDAQ ARVN opened at $21.77 on Monday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -3.94 and a beta of 1.86. Arvinas has a twelve month low of $13.57 and a twelve month high of $51.87. The stock has a 50-day moving average of $18.85 and a 200 day moving average of $22.84.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, November 7th. The company reported ($1.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.58) by $0.40. The company had revenue of $34.60 million during the quarter, compared to analysts’ expectations of $39.58 million. Arvinas had a negative net margin of 185.09% and a negative return on equity of 59.18%. Arvinas’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.24) EPS. Equities analysts predict that Arvinas will post -5.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. raised its holdings in shares of Arvinas by 96.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,374 shares of the company’s stock valued at $27,000 after buying an additional 674 shares during the last quarter. BluePath Capital Management LLC bought a new stake in shares of Arvinas in the 3rd quarter worth approximately $28,000. PNC Financial Services Group Inc. lifted its holdings in shares of Arvinas by 1,015.3% during the second quarter. PNC Financial Services Group Inc. now owns 1,383 shares of the company’s stock valued at $34,000 after purchasing an additional 1,259 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Arvinas by 37.6% in the 3rd quarter. Royal Bank of Canada now owns 1,230 shares of the company’s stock valued at $54,000 after acquiring an additional 336 shares in the last quarter. Finally, Natixis acquired a new stake in shares of Arvinas during the fourth quarter worth approximately $54,000. 86.33% 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.