Stifel Nicolaus Cuts Arvinas (NASDAQ:ARVN) Price Target to $51.00

Arvinas (NASDAQ:ARVN) had its price target cut by Stifel Nicolaus from $63.00 to $51.00 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently weighed in on ARVN. Stephens initiated coverage on shares of Arvinas in a report on Monday, November 18th. They set an “overweight” rating and a $55.00 price objective for the company. Barclays lowered their target price on Arvinas from $48.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Cantor Fitzgerald restated an “overweight” rating on shares of Arvinas in a research note on Friday, February 7th. Wedbush reiterated an “outperform” rating and issued a $57.00 price objective on shares of Arvinas in a research note on Tuesday. Finally, Guggenheim restated a “buy” rating on shares of Arvinas in a research report on Thursday, December 12th. 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 stock has an average rating of “Moderate Buy” and a consensus target price of $59.58.

Arvinas Trading Up 1.5 %

Shares of ARVN opened at $17.95 on Wednesday. Arvinas has a 12 month low of $16.61 and a 12 month high of $53.08. The business’s fifty day simple moving average is $19.18 and its two-hundred day simple moving average is $23.32. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -3.84 and a beta of 1.88.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data 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 previous year, the firm earned ($2.53) EPS. As a group, research analysts forecast that Arvinas will post -3.22 EPS for the current year.

Hedge Funds Weigh In On Arvinas

Large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in shares of Arvinas during the 3rd quarter valued at $39,000. KBC Group NV increased its stake in Arvinas by 77.0% in the 4th 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. raised its holdings in Arvinas by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483 shares of the company’s stock valued at $61,000 after acquiring an additional 440 shares during the period. Quantbot Technologies LP raised its holdings in Arvinas by 147.3% during the third quarter. Quantbot Technologies LP now owns 4,367 shares of the company’s stock valued at $108,000 after acquiring an additional 2,601 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in shares of Arvinas by 37.0% in the third quarter. Exchange Traded Concepts LLC now owns 6,659 shares of the company’s stock valued at $164,000 after acquiring an additional 1,798 shares in the last quarter. Hedge funds and other institutional investors own 95.19% of the company’s stock.

Arvinas Company Profile

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.