Wedbush Reiterates “Outperform” Rating for Arvinas (NASDAQ:ARVN)

Arvinas (NASDAQ:ARVN)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research note issued to investors on Tuesday,RTT News reports. They currently have a $57.00 price objective on the stock. Wedbush’s target price would indicate a potential upside of 222.40% from the stock’s current price.

A number of other equities analysts have also issued reports on the stock. Guggenheim reiterated a “buy” rating on shares of Arvinas in a research report on Thursday, December 12th. Stephens started coverage on shares of Arvinas in a research report on Monday, November 18th. They set an “overweight” rating and a $55.00 price target for the company. Barclays cut 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. Oppenheimer reduced their price objective on shares of 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 target price on shares of Arvinas from $90.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. One 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, Arvinas has an average rating of “Moderate Buy” and an average target price of $61.45.

Arvinas Stock Down 6.8 %

NASDAQ ARVN traded down $1.29 during midday trading on Tuesday, hitting $17.68. The company had a trading volume of 1,863,711 shares, compared to its average volume of 892,133. The firm has a fifty day simple moving average of $19.46 and a two-hundred day simple moving average of $23.44. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -3.79 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 posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.07) by $0.44. During the same quarter last year, the company posted ($2.53) EPS. As a group, equities analysts predict that Arvinas will post -3.22 earnings per share for the current year.

Hedge Funds Weigh In On Arvinas

A number of large investors have recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in shares of Arvinas during the 3rd quarter worth $39,000. KBC Group NV grew its stake in Arvinas by 77.0% during the fourth quarter. KBC Group NV now owns 2,885 shares of the company’s stock worth $55,000 after buying an additional 1,255 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 valued at $61,000 after buying an additional 440 shares during the period. Quantbot Technologies LP raised its position 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 buying an additional 2,601 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Arvinas by 37.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock worth $164,000 after acquiring an additional 1,798 shares during the period. 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.