Arvinas Receives 'Outperform' Rating from BMO Capital Markets

Arvinas (NASDAQ:ARVN) recently had its "outperform" rating reaffirmed by analysts at BMO Capital Markets in a report that was released on Wednesday. They have set a new price target of $82.00 for the company's stock, which is a decrease from their previous target of $88.00. This new target suggests a potential upside of approximately 334.35% based on the stock's most recent closing price.

In addition to BMO Capital Markets, several other analysts have shared their insights about Arvinas. Stifel Nicolaus reduced their price target from $63.00 to $51.00 while also giving the stock a "buy" rating. Barclays also decreased their target from $48.00 to $32.00, assigning an "overweight" rating to Arvinas in a research note dated February 3rd. Meanwhile, Stephens started coverage of Arvinas on November 18th, giving it an "overweight" rating with a price target of $55.00.

Cantor Fitzgerald reaffirmed their "overweight" rating on February 7th, and BTIG Research initiated coverage on December 10th with a "buy" rating and a price target of $69.00. Overall, one analyst holds a "hold" rating, and thirteen have assigned a "buy" rating to Arvinas. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.17.

Recent Price Performance of Arvinas

On Wednesday, shares of Arvinas traded up by $1.20, reaching a price of $18.88. The trading volume for the day was 336,015 shares, which is lower than the average volume of 869,743 shares. Over the past year, Arvinas has seen a low of $16.61 and a high of $53.08. The company currently has a market capitalization of $1.30 billion, a Price-to-Earnings (P/E) ratio of -4.04, and a beta of 1.88.

Arvinas last announced its quarterly earnings results on February 11th, where it reported an earnings per share (EPS) of ($0.63), exceeding the analysts’ consensus estimates of ($1.07) by $0.44. In the same quarter of the previous year, the EPS was ($2.53). Analysts predict that Arvinas will post an EPS of -3.22 for the current year.

Institutional Investors and Arvinas

Recent changes in institutional investor positions have also been noted regarding Arvinas. JPMorgan Chase & Co. increased its holdings by 18.7% during the third quarter, acquiring an additional 367,343 shares, bringing their total to 2,329,303 shares worth approximately $57.37 million. Baker Brothers Advisors LP entered a new position worth about $9.99 million in the same quarter.

SG Americas Securities LLC boosted its holdings in Arvinas by 228.8% in the fourth quarter, owning 32,424 shares worth $622,000 after purchasing 22,564 additional shares. Wasatch Advisors LP also increased their shares by 58.3%, owning 435,943 shares valued at $10.74 million. Similarly, Barclays PLC raised its stake by 198.9% during the third quarter, resulting in ownership of 121,699 shares valued at $2.99 million. A significant 95.19% of Arvinas' stock is owned by institutional investors.

About Arvinas

Arvinas, Inc. is a clinical-stage biotechnology firm dedicated to the discovery, development, and commercialization of therapies designed to degrade disease-causing proteins. The company is known for engineering proteolysis targeting chimeras (PROTACs), which are targeted protein degraders aimed at utilizing the body's natural protein disposal mechanisms to eliminate harmful proteins.

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