Arvinas, Inc. (NASDAQ:ARVN) Receives $60.00 Consensus Price Target from Analysts

Shares of Arvinas, Inc. (NASDAQ:ARVN) have been assigned a consensus recommendation of “Buy” from the thirteen ratings firms that are covering the company, Marketbeat reports. Thirteen analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $60.00.

A number of equities research analysts have issued reports on ARVN shares. Barclays reduced their target price on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Stifel Nicolaus reduced their target price on shares of Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, February 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. Guggenheim reiterated a “buy” rating and set a $57.00 target price on shares of Arvinas in a report on Wednesday, February 12th. Finally, BTIG Research started coverage on shares of Arvinas in a report on Tuesday, December 10th. They set a “buy” rating and a $69.00 target price on the stock.

Arvinas Stock Performance

Shares of ARVN stock opened at $18.54 on Friday. The firm’s 50 day moving average price is $18.55 and its 200-day moving average price is $23.02. Arvinas has a one year low of $16.61 and a one year high of $51.99. The firm has a market cap of $1.27 billion, a P/E ratio of -6.69 and a beta of 1.88.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($1.07) by $0.44. Arvinas had a negative net margin of 75.51% and a negative return on equity of 33.75%. During the same period last year, the company posted ($2.53) EPS. As a group, research analysts predict that Arvinas will post -3.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Arvinas

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new position in shares of Arvinas in the 4th quarter valued at $28,000. nVerses Capital LLC purchased a new position in shares of Arvinas in the 3rd quarter valued at $39,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Arvinas by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after buying an additional 440 shares during the last quarter. KBC Group NV grew its position in shares of Arvinas by 77.0% in the 4th quarter. KBC Group NV now owns 2,885 shares of the company’s stock valued at $55,000 after buying an additional 1,255 shares during the last quarter. Finally, Quantbot Technologies LP grew its position in shares of Arvinas by 147.3% in the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock valued at $108,000 after buying an additional 2,601 shares during the last quarter. 95.19% of the stock is currently 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.