Arvinas’ (ARVN) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Arvinas (NASDAQ:ARVN) in a research note issued to investors on Tuesday,RTT News reports. The firm currently has a $57.00 price objective on the stock. Wedbush also issued estimates for Arvinas’ FY2029 earnings at ($1.15) EPS.

Other analysts have also recently issued reports about the company. Stephens assumed coverage on Arvinas in a report on Monday, November 18th. They issued an “overweight” rating and a $55.00 target price on the stock. Barclays dropped their price target on Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Arvinas in a research note on Friday, February 7th. Oppenheimer dropped their price target on Arvinas from $50.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Finally, 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. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.58.

Arvinas Price Performance

Shares of ARVN stock opened at $17.67 on Tuesday. The business’s 50 day simple moving average is $19.04 and its 200 day simple moving average is $23.28. Arvinas has a one year low of $16.61 and a one year high of $53.08. The stock has a market capitalization of $1.21 billion, a PE ratio of -3.78 and a beta of 1.88.

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

Hedge Funds Weigh In On Arvinas

A number of institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new stake in Arvinas during the fourth quarter worth $332,000. Marshall Wace LLP grew its holdings in Arvinas by 57.3% during the fourth quarter. Marshall Wace LLP now owns 268,026 shares of the company’s stock worth $5,138,000 after buying an additional 97,676 shares in the last quarter. Affinity Asset Advisors LLC grew its holdings in Arvinas by 180.0% during the fourth quarter. Affinity Asset Advisors LLC now owns 630,000 shares of the company’s stock worth $12,077,000 after buying an additional 405,000 shares in the last quarter. New Leaf Venture Partners L.L.C. grew its holdings in Arvinas by 10.5% during the fourth quarter. New Leaf Venture Partners L.L.C. now owns 1,585,721 shares of the company’s stock worth $30,398,000 after buying an additional 151,000 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in Arvinas by 44.6% during the fourth quarter. XTX Topco Ltd now owns 26,599 shares of the company’s stock worth $510,000 after buying an additional 8,198 shares in the last quarter. 95.19% of the stock is owned by institutional investors and hedge funds.

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.