Oppenheimer Trims Arvinas (NASDAQ:ARVN) Target Price to $50.00

Arvinas (NASDAQ:ARVN) had its price target decreased by Oppenheimer from $70.00 to $50.00 in a research report report published on Wednesday, Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Other analysts have also issued reports about the stock. Wedbush restated an outperform rating and issued a $57.00 price objective on shares of Arvinas in a report on Tuesday, July 30th. HC Wainwright reiterated a buy rating and issued a $87.00 price objective on shares of Arvinas in a report on Friday, May 17th. Wells Fargo & Company dropped their target price on shares of Arvinas from $63.00 to $60.00 and set an overweight rating on the stock in a report on Thursday, May 9th. Finally, Stifel Nicolaus decreased their price target on shares of Arvinas from $72.00 to $68.00 and set a buy rating for the company in a research note on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arvinas currently has an average rating of Moderate Buy and an average target price of $58.33.

Arvinas Stock Performance

NASDAQ ARVN opened at $25.84 on Wednesday. The stock has a market cap of $1.77 billion, a P/E ratio of -4.36 and a beta of 1.98. Arvinas has a fifty-two week low of $13.57 and a fifty-two week high of $53.08. The stock has a 50 day simple moving average of $27.74 and a two-hundred day simple moving average of $35.82.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($1.08) by $0.59. The business had revenue of $76.50 million during the quarter, compared to analysts’ expectations of $33.27 million. During the same period in the previous year, the business earned ($1.25) EPS. The business’s revenue was up 40.4% compared to the same quarter last year. Sell-side analysts predict that Arvinas will post -3.67 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers raised its position in Arvinas by 26.7% in the 2nd quarter. Rhumbline Advisers now owns 90,229 shares of the company’s stock worth $2,402,000 after buying an additional 19,024 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of Arvinas by 57.4% in the second quarter. Panagora Asset Management Inc. now owns 256,658 shares of the company’s stock worth $6,832,000 after acquiring an additional 93,568 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Arvinas by 30.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,062 shares of the company’s stock worth $268,000 after acquiring an additional 2,363 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Arvinas by 13.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 14,298 shares of the company’s stock valued at $381,000 after purchasing an additional 1,728 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Arvinas by 32.6% during the second quarter. Bank of New York Mellon Corp now owns 235,096 shares of the company’s stock valued at $6,258,000 after purchasing an additional 57,835 shares during the period. 95.19% of the stock is 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.