Analyst Tazeen Ahmad of Bank of America Securities maintained a Buy rating on Arvinas Holding Company (ARVN – Research Report), retaining the price target of $28.00.
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Tazeen Ahmad has given his Buy rating due to a combination of factors related to Arvinas Holding Company’s innovative approach and promising early data. The company has presented encouraging first-in-human data from its phase 1 study of ARV-102, an oral degrader targeting the LRRK2 protein, which is associated with neurodegenerative disorders like Parkinson’s. This study demonstrated significant degradation of LRRK2 in both the central nervous system and peripheral blood mononuclear cells, coupled with a favorable safety profile and manageable side effects.
Furthermore, Arvinas’s strategy to advance ARV-102 into a phase 2/3 trial for progressive supranuclear palsy, an area with high unmet medical need, underscores its potential in addressing serious neurological conditions. The unique mechanism of action of ARV-102, which targets protein clearance dysfunction, offers a novel therapeutic approach compared to traditional kinase inhibition. These factors, along with the company’s strategic plans and the potential for broader neurodegenerative disorder applications, support the Buy rating with a price objective of $28.
In another report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $24.00 price target.