Buy Rating Justified by Acrivon Therapeutics’ Clinical Progress and Market Potential

Emily Bodnar, an analyst from H.C. Wainwright, maintained the Buy rating on Acrivon Therapeutics, Inc. (ACRV – Research Report). The associated price target is $20.00.

Emily Bodnar has given his Buy rating due to a combination of factors concerning Acrivon Therapeutics, Inc.’s clinical advancements and market positioning. The anticipation of more mature Phase 2 data for ACR-368 in the first half of 2024 is a significant driver, given the observed activity across various cancer types in ongoing studies. The company’s strategic progress, moving from Phase 1b to Phase 2 with its OncoSignature negative patients, highlights the potential of the ACR-368 and low dose gemcitabine combination. This movement is backed by preclinical data, suggesting that the therapy can re-sensitize tumors, and is supported further by a well-understood safety profile from previous evaluations by Eli Lilly. The stock’s current valuation, which has seen a notable decline compared to the previous year, presents a favorable benefit/risk setup that underpins the Buy rating.

In addition, the development of ACR-2316, an internally developed dual inhibitor targeting WEE1 and PKMYT1, contributes to the optimistic outlook. The preclinical data set to be presented indicates superior activity over existing benchmark inhibitors and suggests promising tolerability. The potential for ACR-2316 to offer an improved safety profile as a dual inhibitor is particularly compelling, especially when considering the clinical validation of WEE1 and PKMYT1 as targets with positive data in various indications. These factors combined with the progress towards an IND filing for ACR-2316 position Acrivon Therapeutics favorably within the market, justifying the Buy rating assigned by Emily Bodnar.

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Acrivon Therapeutics, Inc. (ACRV) Company Description:

Acrivon Therapeutics Inc is a clinical-stage biopharmaceutical company developing oncology medicines that the Company matches to patients whose tumors are predicted to be sensitive to each specific medicine by utilizing its proteomics-based patient responder identification platform. The company’s pipeline includes the Phase 2 lead program, ACR-368, referred to as prexasertib, a targeted oncology asset, as well as preclinical stage pipeline programs targeting critical nodes in the DNA Damage Response and cell cycle regulation pathways, including WEE1, a protein kinase, and PKMYT1, a closely related protein serine/threonine kinase.