Leerink Partners analyst Andrew Berens maintained a Buy rating on Arvinas Holding Company (ARVN – Research Report) on February 27 and set a price target of $77.00.
Andrew Berens has given his Buy rating due to a combination of factors surrounding Arvinas Holding Company’s promising pipeline and anticipated clinical trial outcomes. The pharmaceutical company has reported steady progress with its clinical programs, particularly drawing attention with its Phase 3 VERITAC-2 trial for breast cancer treatment, which is expected to complete enrollment in the second half of 2024. With top-line results due by the end of 2024, there is potential for Arvinas to demonstrate effective treatment options, especially for patients with ESR1+ mutations, which could position the company favorably in the competitive breast cancer treatment landscape.
Additionally, Arvinas is making headway with its Phase 2 study of AR-766 for advanced metastatic castration-resistant prostate cancer (mCRPC), highlighting an enhanced safety profile and promising PSA reduction in certain patient populations. The anticipation of positive progression-free survival (PFS) data in mid-2024, along with plans to discuss a Phase 3 trial with regulatory authorities, suggests a strong trajectory for AR-766. This, combined with the ongoing exploration of multiple degrader combinations and new degraders entering clinical trials, underscores the company’s robust and active approach to expanding its treatment pipeline, which may lead to substantial growth and reinforces Berens’s Buy rating for Arvinas Holding Company’s stock.
In another report released on February 28, BMO Capital also maintained a Buy rating on the stock with a $90.00 price target.
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Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ARVN in relation to earlier this year.
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Arvinas Holding Company (ARVN) Company Description:
Arvinas, Inc. is a biopharmaceutical company, which engages in the discovery, development and commercialization of therapies to degrade disease-causing proteins. Its lead products include ARV-110 and ARV-471. The company was founded in February 2013 and is headquartered in New Haven, CT.
Read More on ARVN:
- Arvinas price target raised to $59 from $33 at Wedbush
- Arvinas VERITAC-2 trial timelines not changed, says Oppenheimer
- Arvinas Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Corporate Update
- Arvinas expects cash to fund operations into 2027
- Arvinas reports Q4 EPS ($2.53), consensus ($1.27)
