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

Arvinas (NASDAQ:ARVN) had its price target lowered by Oppenheimer from $50.00 to $40.00 in a report published on Thursday, Benzinga reports. The firm currently has an outperform rating on the stock.

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

Arvinas Stock Up 1.8 %

NASDAQ ARVN opened at $26.90 on Thursday. The company has a market cap of $1.85 billion, a PE ratio of -5.76 and a beta of 1.97. Arvinas has a 52 week low of $14.02 and a 52 week high of $53.08. The firm’s 50-day simple moving average is $25.64 and its two-hundred day simple moving average is $27.79.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($0.88) by $0.20. The business had revenue of $102.40 million for the quarter, compared to analysts’ expectations of $60.56 million. Arvinas’s revenue for the quarter was up 196.0% compared to the same quarter last year. During the same period last year, the company earned ($1.18) earnings per share. As a group, equities research analysts anticipate that Arvinas will post -3.51 EPS for the current year.

Institutional Investors Weigh In On Arvinas

A number of institutional investors and hedge funds have recently bought and sold shares of ARVN. Vanguard Group Inc. raised its stake in Arvinas by 29.9% in the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock valued at $260,046,000 after purchasing an additional 1,448,166 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Arvinas by 14.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company’s stock valued at $180,329,000 after purchasing an additional 536,295 shares in the last quarter. Candriam S.C.A. raised its stake in Arvinas by 32.0% in the second quarter. Candriam S.C.A. now owns 610,458 shares of the company’s stock valued at $16,250,000 after purchasing an additional 147,904 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Arvinas during the third quarter valued at approximately $3,442,000. Finally, Panagora Asset Management Inc. grew its position in Arvinas by 57.4% during the second quarter. Panagora Asset Management Inc. now owns 256,658 shares of the company’s stock valued at $6,832,000 after acquiring an additional 93,568 shares during the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.

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.