Stephens Initiates Coverage on Arvinas (NASDAQ:ARVN)

Analysts at Stephens started coverage on shares of Arvinas (NASDAQ:ARVN) in a research note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $55.00 price target on the stock. Stephens’ price objective points to a potential upside of 130.13% from the company’s previous close.

Several other brokerages have also weighed in on ARVN. Oppenheimer cut their target price on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Arvinas in a research note on Monday, September 9th. Wedbush reiterated an “outperform” rating and issued a $57.00 price objective on shares of Arvinas in a research note on Tuesday, July 30th. HC Wainwright reissued a “buy” rating and issued a $87.00 target price on shares of Arvinas in a report on Thursday, October 31st. Finally, Barclays reduced their target price on Arvinas from $60.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Arvinas currently has an average rating of “Moderate Buy” and a consensus price target of $59.62.

Arvinas Stock Up 6.3 %

Shares of Arvinas stock opened at $23.90 on Monday. The firm has a market cap of $1.64 billion, a PE ratio of -4.81 and a beta of 1.96. Arvinas has a twelve month low of $20.28 and a twelve month high of $53.08. The business has a 50-day moving average price of $25.78 and a 200 day moving average price of $27.24.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($0.88) by $0.20. The business had revenue of $102.40 million during the quarter, compared to analyst estimates of $60.56 million. The business’s revenue for the quarter was up 196.0% on a year-over-year basis. During the same period last year, the company earned ($1.18) EPS. On average, sell-side analysts expect that Arvinas will post -3.32 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ARVN. Vanguard Group Inc. lifted its stake in shares of Arvinas by 29.9% during the first quarter. Vanguard Group Inc. now owns 6,299,556 shares of the company’s stock worth $260,046,000 after purchasing an additional 1,448,166 shares in the last quarter. Braidwell LP raised its stake in shares of Arvinas by 148.3% during the third quarter. Braidwell LP now owns 1,284,472 shares of the company’s stock valued at $31,637,000 after purchasing an additional 767,242 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Arvinas by 14.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,368,418 shares of the company’s stock valued at $180,329,000 after purchasing an additional 536,295 shares during the period. Baker BROS. Advisors LP purchased a new position in shares of Arvinas in the third quarter valued at $9,989,000. Finally, FMR LLC grew its holdings in Arvinas by 7.6% during the 3rd quarter. FMR LLC now owns 2,883,604 shares of the company’s stock valued at $71,023,000 after purchasing an additional 204,317 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

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.