SVB Leerink Cuts Arvinas (NASDAQ:ARVN) Price Target to $74.00

Arvinas (NASDAQ:ARVNGet Rating) had its target price trimmed by SVB Leerink from $89.00 to $74.00 in a report published on Tuesday morning, MarketBeat reports. The brokerage currently has an outperform rating on the stock. SVB Leerink also issued estimates for Arvinas’ FY2024 earnings at ($7.85) EPS, FY2025 earnings at ($10.00) EPS and FY2026 earnings at ($7.95) EPS.

Several other research analysts have also issued reports on ARVN. Citigroup reduced their price target on Arvinas from $103.00 to $88.00 in a research report on Thursday, August 18th. Credit Suisse Group lifted their price target on Arvinas to $81.00 in a research note on Tuesday, November 15th. Stifel Nicolaus reissued a buy rating and issued a $80.00 price target on shares of Arvinas in a research note on Tuesday, October 18th. Capital One Financial initiated coverage on Arvinas in a research report on Tuesday, October 25th. They issued an overweight rating on the stock. Finally, Morgan Stanley lowered their target price on Arvinas from $63.00 to $57.00 and set an equal weight rating on the stock in a research report on Friday, November 11th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $79.19.

Arvinas Trading Down 2.8 %

Shares of ARVN opened at $39.56 on Tuesday. Arvinas has a 1 year low of $34.90 and a 1 year high of $83.40. The stock has a 50 day simple moving average of $45.35 and a 200-day simple moving average of $45.79. The stock has a market cap of $2.11 billion, a PE ratio of -8.31 and a beta of 1.89.

Arvinas (NASDAQ:ARVNGet Rating) last released its quarterly earnings results 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 business had revenue of $30.30 million for the quarter, compared to analyst estimates of $44.20 million. On average, sell-side analysts forecast that Arvinas will post -4.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Arvinas

Institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of Arvinas during the first quarter worth approximately $57,000. Royal Bank of Canada boosted its stake in shares of Arvinas by 37.6% in the third quarter. Royal Bank of Canada now owns 1,230 shares of the company’s stock valued at $54,000 after buying an additional 336 shares during the period. Amundi bought a new stake in shares of Arvinas in the second quarter valued at approximately $62,000. SeaCrest Wealth Management LLC bought a new stake in shares of Arvinas in the second quarter valued at approximately $57,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Arvinas by 25.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,384 shares of the company’s stock valued at $69,000 after buying an additional 284 shares during the period. Institutional investors own 91.20% of the company’s stock.

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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