Arvinas (NASDAQ:ARVN) Price Target Raised to $45.00

Arvinas (NASDAQ:ARVN) had its price objective hoisted by equities research analysts at Oppenheimer from $40.00 to $45.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 151.49% from the stock’s current price.

A number of other analysts have also recently commented on the stock. HC Wainwright restated a “buy” rating and set a $87.00 price target on shares of Arvinas in a research note on Wednesday, December 11th. BMO Capital Markets reiterated an “outperform” rating and set a $82.00 price objective (down from $88.00) on shares of Arvinas in a research note on Wednesday. Stifel Nicolaus cut their target price on Arvinas from $63.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday. Stephens began coverage on Arvinas in a report on Monday, November 18th. They set an “overweight” rating and a $55.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research report on Friday, February 7th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Arvinas currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.58.

Arvinas Stock Performance

NASDAQ:ARVN traded up $0.21 during trading hours on Wednesday, reaching $17.89. The stock had a trading volume of 471,030 shares, compared to its average volume of 875,855. Arvinas has a 12-month low of $16.61 and a 12-month high of $53.08. The stock has a 50 day simple moving average of $19.33 and a 200 day simple moving average of $23.36. The stock has a market cap of $1.23 billion, a P/E ratio of -3.84 and a beta of 1.88.

Arvinas (NASDAQ:ARVN) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.07) by $0.44. During the same period in the prior year, the firm earned ($2.53) earnings per share. On average, equities analysts expect that Arvinas will post -3.22 earnings per share for the current fiscal year.

Institutional Trading of Arvinas

Several institutional investors and hedge funds have recently made changes to their positions in ARVN. Norges Bank bought a new position in Arvinas during the fourth quarter valued at approximately $23,845,000. BIT Capital GmbH grew its holdings in shares of Arvinas by 291.7% during the 4th quarter. BIT Capital GmbH now owns 263,527 shares of the company’s stock valued at $5,052,000 after purchasing an additional 196,246 shares during the last quarter. Vanguard Group Inc. raised its position in Arvinas by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 7,062,561 shares of the company’s stock worth $135,389,000 after purchasing an additional 56,561 shares during the period. LPL Financial LLC raised its position in Arvinas by 12.5% in the 4th quarter. LPL Financial LLC now owns 18,669 shares of the company’s stock worth $358,000 after purchasing an additional 2,077 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in Arvinas during the fourth quarter valued at about $171,000. 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.