Arvinas (NASDAQ:ARVN) Receives Outperform Rating from Wedbush

Arvinas (NASDAQ:ARVN)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a research note issued to investors on Tuesday,RTT News reports. They currently have a $57.00 price target on the stock. Wedbush’s price target would indicate a potential upside of 222.40% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Guggenheim reiterated a “buy” rating on shares of Arvinas in a report on Thursday, December 12th. BMO Capital Markets dropped their price target on Arvinas from $90.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 20th. Barclays reduced their price objective on Arvinas from $48.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Stephens assumed coverage on Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 target price on the stock. Finally, Oppenheimer reduced their price target on shares of Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Arvinas presently has a consensus rating of “Moderate Buy” and an average price target of $61.45.

Arvinas Price Performance

Shares of Arvinas stock traded down $1.29 on Tuesday, hitting $17.68. 1,863,711 shares of the company’s stock traded hands, compared to its average volume of 892,133. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -3.79 and a beta of 1.88. The company has a fifty day moving average of $19.46 and a two-hundred day moving average of $23.44. Arvinas has a one year low of $16.61 and a one year high of $53.08.

Arvinas (NASDAQ:ARVN) last announced 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. During the same quarter last year, the company posted ($2.53) EPS. Equities research analysts anticipate that Arvinas will post -3.22 earnings per share for the current year.

Institutional Trading of Arvinas

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Arvinas by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 7,062,561 shares of the company’s stock valued at $135,389,000 after purchasing an additional 56,561 shares during the last quarter. FMR LLC raised its stake in shares of Arvinas by 7.6% in the third quarter. FMR LLC now owns 2,883,604 shares of the company’s stock valued at $71,023,000 after buying an additional 204,317 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Arvinas by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,329,303 shares of the company’s stock worth $57,371,000 after acquiring an additional 367,343 shares during the period. Braidwell LP increased its holdings in Arvinas by 148.3% in the 3rd quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock worth $31,637,000 after acquiring an additional 767,242 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its holdings in Arvinas by 1.4% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,244,450 shares of the company’s stock valued at $30,651,000 after purchasing an additional 17,723 shares during the last quarter. 95.19% of the stock is currently 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.