Arvinas (NASDAQ:ARVN) Coverage Initiated by Analysts at BTIG Research

Analysts at BTIG Research assumed coverage on shares of Arvinas (NASDAQ:ARVN) in a report released on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $69.00 price target on the stock. BTIG Research’s price objective suggests a potential upside of 175.12% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $87.00 price target on shares of Arvinas in a research note on Thursday, October 31st. Stephens started coverage on shares of Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 price objective on the stock. BMO Capital Markets dropped their price target on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Finally, Oppenheimer lowered their target price on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.50.

Arvinas Trading Down 3.2 %

Shares of Arvinas stock opened at $25.08 on Tuesday. Arvinas has a 1 year low of $21.17 and a 1 year high of $53.08. The company has a market cap of $1.72 billion, a P/E ratio of -5.37 and a beta of 1.82. The stock has a 50-day moving average price of $25.77 and a 200 day moving average price of $26.33.

Arvinas (NASDAQ:ARVN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.20. The company had revenue of $102.40 million during the quarter, compared to analysts’ expectations of $60.56 million. During the same period last year, the company earned ($1.18) earnings per share. Arvinas’s revenue for the quarter was up 196.0% compared to the same quarter last year. On average, equities analysts forecast that Arvinas will post -3.22 earnings per share for the current fiscal year.

Institutional Trading of Arvinas

Hedge funds have recently bought and sold shares of the stock. Baker BROS. Advisors LP bought a new stake in shares of Arvinas in the third quarter valued at about $9,989,000. SG Americas Securities LLC grew its holdings in shares of Arvinas by 137.2% during the 2nd quarter. SG Americas Securities LLC now owns 86,096 shares of the company’s stock worth $2,292,000 after purchasing an additional 49,799 shares in the last quarter. Wasatch Advisors LP increased its position in shares of Arvinas by 58.3% during the third quarter. Wasatch Advisors LP now owns 435,943 shares of the company’s stock valued at $10,737,000 after purchasing an additional 160,510 shares during the period. Candriam S.C.A. raised its stake in shares of 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. Finally, Magnetar Financial LLC lifted its position in Arvinas by 112.7% in the second quarter. Magnetar Financial LLC now owns 41,992 shares of the company’s stock worth $1,118,000 after purchasing an additional 22,245 shares during the period. 95.19% of the stock is owned by 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.