Leerink Partners analyst Andrew Berens has maintained their bullish stance on ARVN stock, giving a Buy rating yesterday.
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Andrew Berens has given his Buy rating due to a combination of factors influencing Arvinas Holding Company’s stock. Primarily, he anticipates significant upside potential with the upcoming VERITAC-2 topline readout, noting the stock’s substantial decline over the past year. The trial is essential as it evaluates the efficacy of vepdegestrant, an estrogen receptor degrader, in treating certain types of metastatic breast cancer, which could lead to a broad approval label and substantial revenue growth.
Moreover, early data from Phase 1 trials have shown promising results, particularly in less pre-treated patient groups, suggesting a competitive edge over existing treatments. Berens highlights the potential of PROTACs to outperform current therapies due to their potent mechanism of action, and if the Phase 3 trial results are favorable, ARVN shares could see a considerable increase in value, possibly appreciating by up to 200%.
According to TipRanks, Berens is an analyst with an average return of -7.1% and a 36.91% success rate. Berens covers the Healthcare sector, focusing on stocks such as AstraZeneca, Exelixis, and Agios Pharma.
In another report released yesterday, Barclays also reiterated a Buy rating on the stock with a $32.00 price target.