Arvinas (NASDAQ:ARVN) PT Lowered to $90.00

Arvinas (NASDAQ:ARVNGet Rating) had its price target reduced by Cantor Fitzgerald from $106.00 to $90.00 in a research note issued on Wednesday, The Fly reports. Cantor Fitzgerald’s price objective suggests a potential upside of 127.50% from the company’s current price.

Several other equities analysts also recently commented on the stock. HC Wainwright lowered their target price on shares of Arvinas from $135.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, August 5th. Credit Suisse Group boosted their target price on shares of Arvinas to $81.00 in a research note on Tuesday, November 15th. Citigroup lowered their price objective on shares of Arvinas from $103.00 to $88.00 in a research note on Thursday, August 18th. Barclays cut their price objective on shares of Arvinas from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Capital One Financial started coverage on shares of Arvinas in a research report on Tuesday, October 25th. They issued an “overweight” rating for the company. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.19.

Arvinas Trading Down 2.8 %

NASDAQ:ARVN opened at $39.56 on Wednesday. The company has a 50-day moving average price of $45.35 and a 200-day moving average price of $45.79. Arvinas has a 12 month low of $34.90 and a 12 month high of $83.40. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -8.31 and a beta of 1.89.

Arvinas (NASDAQ:ARVNGet Rating) last released its quarterly earnings data on Tuesday, November 8th. The company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.26). Arvinas had a negative net margin of 225.34% and a negative return on equity of 36.12%. The firm had revenue of $30.30 million for the quarter, compared to the consensus estimate of $44.20 million. Equities analysts forecast that Arvinas will post -4.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Arvinas

Large investors have recently modified their holdings of the stock. FMR LLC lifted its holdings in Arvinas by 2.3% during the 2nd quarter. FMR LLC now owns 7,363,193 shares of the company’s stock worth $309,917,000 after buying an additional 167,390 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Arvinas by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,180,065 shares of the company’s stock valued at $185,971,000 after purchasing an additional 116,877 shares during the period. BlackRock Inc. increased its position in shares of Arvinas by 0.9% during the 3rd quarter. BlackRock Inc. now owns 3,706,508 shares of the company’s stock valued at $164,901,000 after purchasing an additional 31,339 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Arvinas by 5.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,267,570 shares of the company’s stock worth $137,532,000 after acquiring an additional 160,860 shares during the last quarter. Finally, Bellevue Group AG grew its holdings in shares of Arvinas by 3.1% in the 3rd quarter. Bellevue Group AG now owns 2,190,762 shares of the company’s stock worth $97,467,000 after acquiring an additional 66,486 shares during the last quarter. Institutional investors and hedge funds own 91.20% of the company’s stock.

About Arvinas

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Arvinas, Inc, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapies to degrade disease-causing proteins. Its lead product candidates include Bavdegalutamide, a proteolysis targeting chimera (PROTAC) protein degrader that is in phase I clinical trial targeting the androgen receptor (AR) protein for the treatment of men with metastatic castration-resistant prostate cancer (mCRPC); ARV-471, a PROTAC protein degrader targeting the estrogen receptor protein for the treatment of patients with metastatic ER positive/HER2 negative breast cancer; and ARV-766 an investigational orally bioavailable PROTAC protein degrader for the treatment of men with mCRPC.

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