Arvinas, Inc. (NASDAQ:ARVN – Get Free Report) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 10,640,000 shares, an increase of 11.5% from the June 30th total of 9,540,000 shares. Based on an average daily trading volume, of 850,200 shares, the short-interest ratio is presently 12.5 days.
Analyst Upgrades and Downgrades
ARVN has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $87.00 price objective on shares of Arvinas in a report on Friday, May 17th. Stifel Nicolaus decreased their price objective on shares of Arvinas from $72.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Wells Fargo & Company reduced their price target on shares of Arvinas from $63.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Finally, Wedbush reissued an “outperform” rating and issued a $57.00 price target on shares of Arvinas in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.13.
Check Out Our Latest Stock Analysis on ARVN
Institutional Investors Weigh In On Arvinas
Arvinas Trading Down 3.8 %
Shares of ARVN stock traded down $1.05 during mid-day trading on Tuesday, reaching $26.73. The company’s stock had a trading volume of 897,546 shares, compared to its average volume of 773,979. Arvinas has a 1-year low of $13.57 and a 1-year high of $53.08. The firm’s 50-day moving average is $28.41 and its two-hundred day moving average is $36.12.
Arvinas (NASDAQ:ARVN – Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.97) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.45. The business had revenue of $25.30 million during the quarter, compared to analyst estimates of $32.94 million. During the same quarter in the prior year, the company posted ($1.54) EPS. The company’s quarterly revenue was down 22.2% compared to the same quarter last year. On average, equities research analysts forecast that Arvinas will post -4.08 earnings per share for the current fiscal year.
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.
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