Arvinas, Inc. (NASDAQ:ARVN) Receives $16.79 Consensus Target Price from Brokerages

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

A number of research analysts have recently commented on ARVN shares. Wells Fargo & Company dropped their price target on Arvinas from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Stephens increased their target price on shares of Arvinas from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. BTIG Research lifted their target price on shares of Arvinas from $10.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Citigroup upgraded shares of Arvinas from a “neutral” rating to a “buy” rating and upped their price target for the company from $10.00 to $15.00 in a research note on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Arvinas in a research note on Monday, December 22nd.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ARVN. AQR Capital Management LLC bought a new position in shares of Arvinas in the first quarter valued at approximately $727,000. Jacobs Levy Equity Management Inc. purchased a new stake in Arvinas in the 1st quarter worth approximately $301,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Arvinas by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock valued at $271,000 after purchasing an additional 2,122 shares during the period. Millennium Management LLC boosted its stake in Arvinas by 208.4% during 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 period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Arvinas by 108.3% during 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 purchasing an additional 469,394 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Stock Performance

Shares of ARVN stock opened at $13.39 on Friday. The firm has a market cap of $859.91 million, a price-to-earnings ratio of -16.53 and a beta of 1.88. Arvinas has a 52 week low of $5.90 and a 52 week high of $20.38. The firm’s 50-day simple moving average is $12.40 and its two-hundred day simple moving average is $9.99.

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

About Arvinas

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.