Arvinas, Inc. (NASDAQ:ARVN – Get Free Report) has earned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $53.13.
A number of research analysts recently issued reports on the company. Morgan Stanley dropped their price target on Arvinas from $32.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Monday, November 13th. Citigroup decreased their price objective on Arvinas from $72.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, October 24th. Jefferies Financial Group raised Arvinas from a “hold” rating to a “buy” rating and increased their price objective for the stock from $32.00 to $40.00 in a research report on Wednesday, December 6th. Guggenheim raised Arvinas from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Monday, November 20th. Finally, The Goldman Sachs Group began coverage on Arvinas in a research report on Thursday, February 1st. They set a “buy” rating and a $70.00 price objective for the company.
Arvinas Stock Up 3.3 %
Hedge Funds Weigh In On Arvinas
Hedge funds and other institutional investors have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. purchased a new position in Arvinas during the fourth quarter worth $2,506,000. US Bancorp DE increased its position in Arvinas by 269.4% during the fourth quarter. US Bancorp DE now owns 2,320 shares of the company’s stock worth $95,000 after buying an additional 1,692 shares in the last quarter. Franklin Resources Inc. purchased a new position in Arvinas during the fourth quarter worth $626,000. Trexquant Investment LP purchased a new position in Arvinas during the fourth quarter worth $2,521,000. Finally, Norges Bank purchased a new position in Arvinas during the fourth quarter worth $36,126,000. 86.33% of the stock is owned by institutional investors and hedge funds.
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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