Bank of America Securities analyst Tazeen Ahmad has maintained their bullish stance on ARVN stock, giving a Buy rating on February 1.
Tazeen Ahmad has given a Buy rating to Arvinas Holding Company due to a variety of optimistic factors surrounding the company’s drug development progress. Management’s presentation of positive data for the vep’ + palbo combination at the recent SABCS and the initiation of multiple combination strategies for vep’ in metastatic breast cancer (mBC) are particularly encouraging. The collaboration with Pfizer and the potential for combining with Pfizer’s CDK4i due to palbo’s patent expiration in 2027, alongside the promising early data from the CDK4i studies, indicate a proactive approach to future treatment regimens. With plans to gather comprehensive data before year-end and start a second-line phase 3 trial, Ahmad sees significant potential in the company’s strategic development approach.
Furthermore, the anticipated 2025 launch of vep’ as monotherapy in second-line mBC, supported by comparisons to Oserdu’s phase 3 EMERALD study results, presents a promising commercial opportunity. Arvinas’s progress on their next-generation PROTAC AR degrader, ARV-766, and its potential to treat all androgen receptor ligand-binding domain mutations post-non-hormonal antiandrogens, which affect approximately 25% of metastatic castration-resistant prostate cancer patients, adds to the positive outlook. The acceptance of IND/CTA for other PROTAC candidates and the company’s strong cash position, sufficient to fund operations until 2027, further underpin Ahmad’s confidence in the stock, justifying a Buy rating with a price objective of $50.00.
According to TipRanks, Ahmad is a 3-star analyst with an average return of 2.4% and a 49.70% success rate. Ahmad covers the Healthcare sector, focusing on stocks such as Apellis Pharmaceuticals, Sarepta Therapeutics, and Ascendis Pharma.
In another report released on February 1, Goldman Sachs also initiated coverage with a Buy rating on the stock with a $70.00 price target.
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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:
- Goldman Sachs Predicts at Least 45% Rally for These 2 ‘Strong Buy’ Stocks — Here’s Why They Have Solid Upside
- Arvinas and Pfizer’s Vepdegestrant (ARV-471) Receives FDA Fast Track Designation for the Treatment of Patients with ER+/HER2- Metastatic Breast Cancer
- Arvinas, Pfizer: FDA grants Fast Track designation for ARV-471
- 3 Best Stocks to Buy Now, 2/2/2024, According to Top Analysts
- Arvinas to Present at 6th Annual Guggenheim Biotechnology Conference
