Arvinas (NASDAQ:ARVN) Given New $78.00 Price Target at Credit Suisse Group

Arvinas (NASDAQ:ARVNGet Rating) had its price target trimmed by Credit Suisse Group from $98.00 to $78.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also recently issued research reports about the stock. The Goldman Sachs Group decreased their price target on shares of Arvinas from $111.00 to $89.00 and set a buy rating on the stock in a research note on Tuesday, May 24th. HC Wainwright decreased their target price on shares of Arvinas from $135.00 to $90.00 and set a buy rating on the stock in a research report on Friday. Wedbush cut shares of Arvinas from an outperform rating to a neutral rating and set a $43.00 target price on the stock. in a research report on Monday, May 9th. Stifel Europe decreased their target price on shares of Arvinas from $85.00 to $82.00 and set a buy rating on the stock in a research report on Thursday, May 5th. Finally, Stifel Nicolaus decreased their target price on shares of Arvinas from $93.00 to $85.00 in a research report on Tuesday, April 26th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $86.67.

Arvinas Stock Up 7.8 %

Shares of Arvinas stock opened at $55.43 on Friday. Arvinas has a fifty-two week low of $34.90 and a fifty-two week high of $103.53. The company has a fifty day moving average of $46.12 and a 200 day moving average of $56.79.

Arvinas (NASDAQ:ARVNGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.04) by ($0.28). The company had revenue of $31.30 million during the quarter, compared to analysts’ expectations of $23.71 million. Arvinas had a negative return on equity of 30.11% and a negative net margin of 255.97%. The firm’s revenue for the quarter was up 469.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.03) EPS. On average, analysts anticipate that Arvinas will post -4.36 earnings per share for the current year.

Hedge Funds Weigh In On Arvinas

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System boosted its stake in shares of Arvinas by 30.0% during the second quarter. State Board of Administration of Florida Retirement System now owns 22,680 shares of the company’s stock valued at $955,000 after purchasing an additional 5,230 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Arvinas by 29.4% during the second quarter. M&T Bank Corp now owns 10,560 shares of the company’s stock valued at $444,000 after purchasing an additional 2,398 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Arvinas by 53.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 122,928 shares of the company’s stock valued at $5,174,000 after acquiring an additional 42,578 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in Arvinas by 33.9% during the second quarter. State of New Jersey Common Pension Fund D now owns 50,890 shares of the company’s stock valued at $2,142,000 after acquiring an additional 12,876 shares during the last quarter. Finally, Candriam S.C.A. lifted its position in Arvinas by 1.3% during the second quarter. Candriam S.C.A. now owns 496,947 shares of the company’s stock valued at $20,915,000 after acquiring an additional 6,240 shares during the last quarter. 84.52% of the stock is currently owned by institutional investors.

Arvinas Company Profile

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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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