H.C. Wainwright analyst Robert Burns reiterated a Buy rating on ArriVent BioPharma, Inc. (AVBP – Research Report) today and set a price target of $39.00.
Robert Burns has given his Buy rating due to a combination of factors related to ArriVent BioPharma, Inc.’s promising clinical trial results and the potential for significant advancements in treatment options. The updated results from the Phase 1b FURTHER trial demonstrated impressive objective response rates for firmonertinib, particularly at the 240mg dose, which showed a confirmed ORR of 63.6%. This is noteworthy given the lack of FDA-approved agents for non-small cell lung cancer patients with EGFR PACC mutations, positioning firmonertinib as a potentially valuable treatment option.
Additionally, the forthcoming results from the Phase 3 FURVENT trial, which compares firmonertinib to platinum-based chemotherapy, are anticipated to further bolster the drug’s profile. The previous Phase 1b FAVOUR trial results, showing high ORR in both treatment-naïve and pretreated patients, underscore firmonertinib’s competitive edge. The safety profile, with low rates of severe treatment-related adverse events, further supports the positive outlook. These factors collectively reinforce the Buy rating, reflecting optimism about the company’s future performance and potential market impact.
In another report released on March 3, LifeSci Capital also maintained a Buy rating on the stock with a $38.00 price target.
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