Arvinas (NASDAQ:ARVN) Receives Buy Rating from Guggenheim

Arvinas (NASDAQ:ARVN)‘s stock had its “buy” rating reiterated by Guggenheim in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $57.00 target price on the stock. Guggenheim’s price objective indicates a potential upside of 201.27% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on ARVN. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a report on Friday, February 7th. Oppenheimer reduced their price objective on Arvinas from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Stifel Nicolaus dropped their target price on Arvinas from $63.00 to $51.00 and set a “buy” rating on the stock in a research report on Wednesday. BMO Capital Markets reduced their price target on Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Finally, Barclays lowered their price objective on shares of Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Arvinas has a consensus rating of “Moderate Buy” and an average target price of $59.67.

Arvinas Stock Up 7.0 %

Shares of ARVN stock traded up $1.24 during trading hours on Wednesday, reaching $18.92. 292,510 shares of the company’s stock were exchanged, compared to its average volume of 867,256. The business has a fifty day moving average price of $19.33 and a 200-day moving average price of $23.36. The stock has a market capitalization of $1.30 billion, a P/E ratio of -4.05 and a beta of 1.88. Arvinas has a fifty-two week low of $16.61 and a fifty-two week high of $53.08.

Arvinas (NASDAQ:ARVN) last issued its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.07) by $0.44. During the same period in the prior year, the business earned ($2.53) EPS. As a group, research analysts expect that Arvinas will post -3.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Arvinas

Large investors have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new stake in shares of Arvinas during the third quarter worth $39,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Arvinas by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock worth $61,000 after purchasing an additional 440 shares in the last quarter. KBC Group NV raised its position in shares of Arvinas by 77.0% in the fourth quarter. KBC Group NV now owns 2,885 shares of the company’s stock valued at $55,000 after buying an additional 1,255 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of Arvinas by 147.3% in the 3rd quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock valued at $108,000 after purchasing an additional 2,601 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Arvinas by 37.0% during the third quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock worth $164,000 after purchasing an additional 1,798 shares during the last quarter. 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.