Arvinas (NASDAQ:ARVN – Get 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.
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.
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.
- Get a free copy of the StockNews.com research report on Arvinas (ARVN)
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