Arvinas Maintains Buy Rating with Strong Price Target

Analysts at HC Wainwright have reiterated a "buy" rating for Arvinas (NASDAQ:ARVN) in their latest research note published on Thursday. The analyst firm has set a price target of $87.00, suggesting a significant potential upside of approximately 224.63% from the stock's closing price on Wednesday.

Other research analysts have also shared their insights on Arvinas. On July 30th, Wedbush reasserted an "outperform" rating and set a price target of $57.00. Furthermore, Cantor Fitzgerald reaffirmed an "overweight" rating for the stock on September 9th. Oppenheimer lowered its target from $50.00 to $40.00 while maintaining an "outperform" rating, and Barclays also adjusted its target downward from $60.00 to $48.00, still rating the stock as "overweight".

Currently, the consensus among analysts is largely positive, with two rating it as a hold and thirteen issuing buy ratings. According to MarketBeat data, Arvinas has an average rating of "Moderate Buy" with a consensus target price set at $56.92.

Current Market Performance

During midday trading on Thursday, Arvinas shares decreased by 3.1%, dropping by $0.86 to reach a value of $26.80. The trading volume was 67,558 shares, which is below the average volume of 716,944. Over the past year, Arvinas has seen its stock price fluctuate, hitting a low of $14.02 and a high of $53.08. The firm has a market capitalization of around $1.84 billion, with a P/E ratio of -4.40 and a beta of 1.97.

In its most recent quarterly earnings report released on October 30th, Arvinas reported earnings of ($0.68) per share, which surpassed analysts' expectations of ($0.88) by $0.20. The company generated revenue of $102.40 million for the quarter, significantly above the anticipated $60.56 million. For comparison, the company reported earnings of ($1.18) per share during the same period last year, indicating a year-over-year revenue increase of 196%. Analysts forecast that Arvinas will post earnings of -3.51 per share for the current fiscal year.

Institutional Investments in Arvinas

Several institutional investors have recently adjusted their stakes in Arvinas. Vanguard Group Inc. increased its holdings by 29.9%, owning 6,299,556 shares valued at $260,046,000 after acquiring 1,448,166 shares in the last quarter. Meanwhile, Price T Rowe Associates Inc. raised its position by 14.0%, holding 4,368,418 shares valued at $180,329,000. Other notable changes include Candriam S.C.A. increasing its holdings by 32% with 610,458 shares, and Panagora Asset Management Inc. boosting its stake by 57.4% to own 256,658 shares. Overall, institutional investors and hedge funds control 95.19% of Arvinas' stock.

About Arvinas

Arvinas, Inc. is a clinical-stage biotechnology company focused on developing and commercializing innovative therapies designed to degrade disease-causing proteins. The company employs its proprietary technology, termed proteolysis targeting chimeras (PROTAC), which targets and eliminates harmful proteins through the body's natural mechanisms.

Arvinas, Stocks, Investment