Analysts Set Arvinas, Inc. (NASDAQ:ARVN) Price Target at $16.79

Arvinas, Inc. (NASDAQ:ARVN) has been assigned a consensus rating of “Hold” from the twenty-two research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $16.7895.

ARVN has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Arvinas in a report on Monday, December 22nd. Wells Fargo & Company reduced their price target on Arvinas from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Wedbush restated a “neutral” rating and set a $9.00 price objective on shares of Arvinas in a research note on Thursday, November 6th. Stephens lifted their target price on Arvinas from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, November 10th. Finally, Barclays increased their price target on shares of Arvinas from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, December 17th.

Institutional Investors Weigh In On Arvinas

Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new position in shares of Arvinas during the first quarter worth $727,000. Jacobs Levy Equity Management Inc. purchased a new position in Arvinas during the 1st quarter worth $301,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Arvinas by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock valued at $271,000 after buying an additional 2,122 shares in the last quarter. Millennium Management LLC raised its stake in Arvinas by 208.4% in the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock valued at $9,198,000 after buying an additional 885,483 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Arvinas by 108.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 902,925 shares of the company’s stock worth $6,339,000 after acquiring an additional 469,394 shares in the last quarter. 95.19% of the stock is currently owned by institutional investors and hedge funds.

Arvinas Price Performance

NASDAQ:ARVN opened at $13.83 on Friday. Arvinas has a 1-year low of $5.90 and a 1-year high of $20.38. The company has a 50-day moving average of $12.35 and a 200 day moving average of $9.92. The firm has a market cap of $888.16 million, a PE ratio of -17.07 and a beta of 1.88.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.27. Arvinas had a negative net margin of 18.73% and a negative return on equity of 9.77%. The business had revenue of $41.90 million during the quarter, compared to analyst estimates of $29.36 million. During the same quarter in the previous year, the business posted ($0.68) EPS. The company’s quarterly revenue was down 59.1% compared to the same quarter last year. Sell-side analysts anticipate that Arvinas will post -3.81 EPS for the current fiscal year.

Arvinas Company Profile

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.