Fintel reports that on May 8, 2023, Credit Suisse reiterated coverage of Arvinas (NASDAQ:ARVN) with a Outperform recommendation.
Analyst Price Forecast Suggests 208.85% Upside
As of April 24, 2023, the average one-year price target for Arvinas is 76.19. The forecasts range from a low of 30.30 to a high of $158.55. The average price target represents an increase of 208.85% from its latest reported closing price of 24.67.
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The projected annual revenue for Arvinas is 120MM, a decrease of 12.34%. The projected annual non-GAAP EPS is -6.20.
What is the Fund Sentiment?
There are 448 funds or institutions reporting positions in Arvinas. This is a decrease of 7 owner(s) or 1.54% in the last quarter. Average portfolio weight of all funds dedicated to ARVN is 0.17%, a decrease of 38.28%. Total shares owned by institutions decreased in the last three months by 0.21% to 54,004K shares. The put/call ratio of ARVN is 0.33, indicating a bullish outlook.
What are Other Shareholders Doing?
Avidity Partners Management holds 4,950K shares representing 9.27% ownership of the company. In it's prior filing, the firm reported owning 4,344K shares, representing an increase of 12.25%. The firm decreased its portfolio allocation in ARVN by 6.62% over the last quarter.
EcoR1 Capital holds 3,123K shares representing 5.85% ownership of the company. No change in the last quarter.
Price T Rowe Associates holds 2,368K shares representing 4.43% ownership of the company. In it's prior filing, the firm reported owning 2,180K shares, representing an increase of 7.95%. The firm decreased its portfolio allocation in ARVN by 17.97% over the last quarter.
Bellevue Group holds 2,150K shares representing 4.03% ownership of the company. In it's prior filing, the firm reported owning 2,191K shares, representing a decrease of 1.88%. The firm decreased its portfolio allocation in ARVN by 35.88% over the last quarter.
Jpmorgan Chase holds 1,967K shares representing 3.68% ownership of the company. In it's prior filing, the firm reported owning 2,092K shares, representing a decrease of 6.34%. The firm decreased its portfolio allocation in ARVN by 33.62% over the last quarter.
Arvinas Background Information
(This description is provided by the company.)
Arvinas is a clinical-stage biopharmaceutical company dedicated to improving the lives of patients suffering from debilitating and life-threatening diseases through the discovery, development, and commercialization of therapies that degrade disease-causing proteins. Arvinas uses its proprietary PROTAC® Discovery Engine platform to engineer proteolysis targeting chimeras, or PROTAC® targeted protein degraders, that are designed to harness the body's own natural protein disposal system to selectively and efficiently degrade and remove disease-causing proteins. In addition to its robust preclinical pipeline of PROTAC® protein degraders against validated and "undruggable" targets, the company has two clinical-stage programs: ARV-110 for the treatment of men with metastatic castrate-resistant prostate cancer; and ARV-471 for the treatment of patients with locally advanced or metastatic ER+/HER2- breast cancer.
This story originally appeared on Fintel.
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