Buy Rating on Acrivon Therapeutics: Anticipated Clinical Validation and Strong Financial Position

Silvan Tuerkcan, an analyst from JMP Securities, maintained the Buy rating on Acrivon Therapeutics, Inc. (ACRV – Research Report). The associated price target remains the same with $14.00.

Silvan Tuerkcan has given his Buy rating due to a combination of factors including the anticipated release of key data for Acrivon Therapeutics’ ACR-368 in the first half of 2024, which has the potential to validate the company’s platform technology in clinical settings. The company’s financial position appears strong, with sufficient cash reserves to support operations well into the fourth quarter of 2025. Furthermore, the dose expansion in the OncoSignature- arm of the ACR-368 trial suggests promising results, reinforcing the potential of the ACR-368 and LDG combination treatment based on AP3 platform findings.

Moreover, the upcoming data on the WEE1/PKMYT1 inhibitor ACR-2316 and the expected Investigational New Drug (IND) application in the fourth quarter of 2024 could provide additional insights, further underpinning the company’s robust research pipeline. The clinical trial designs for ACR-368, including monotherapy and combination therapy, have the potential to be registrational for ACR-368 across multiple tumor types. Additionally, previous dose escalation data indicate an acceptable safety profile, thereby reducing risk and accelerating development timelines for the company’s oncology treatments. These factors collectively support the analyst’s positive outlook and recommendation for Acrivon Therapeutics, Inc.’s stock.

In another report released on March 28, H.C. Wainwright also maintained a Buy rating on the stock with a $20.00 price target.

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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.