Buy Rating on Acrivon Therapeutics with Increased Target Price Amid Promising ACR-368 Trial Data

BMO Capital analyst Etzer Darout reiterated a Buy rating on Acrivon Therapeutics, Inc. (ACRV – Research Report) yesterday and set a price target of $25.00.

Etzer Darout has given his Buy rating due to a combination of factors, including Acrivon Therapeutics, Inc.’s promising early data for ACR-368 in treating ovarian and bladder cancers. His conviction has been strengthened by what he perceives as a clear demonstration of the platform’s potential, leading to an increase in the probability of success rates for ovarian and endometrial cancer treatments. This promising data has led to the reassessment of the company’s target price, now set at $25, reflecting a higher confidence in the drug’s market potential.

Furthermore, Darout’s recommendation takes into account the design and progression of the Phase 2 trial for ACR-368, which suggests a pathway to accelerated development based on the data collected thus far. Despite the slower enrollment in the bladder cancer cohort potentially influenced by recent competitive treatments, the overall positive outlook for efficacy in the indicated cancers supports a differentiated profile for ACR-368. Darout remains optimistic about the company’s ability to deliver value to shareholders based on these developments and believes the recent data is an important step in de-risking the platform.

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

ACRV’s price has also changed dramatically for the past six months – from $5.350 to $8.470, which is a 58.32% increase.

TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.

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.