In a report released yesterday, Tazeen Ahmad from Bank of America Securities reiterated a Buy rating on Arvinas Holding Company (ARVN – Research Report), with a price target of $28.00.
Tazeen Ahmad has given his Buy rating due to a combination of factors that highlight the potential of Arvinas Holding Company’s vepdegestrant (vepdeg) in treating ER+/HER2- metastatic breast cancer. The phase 3 VERITAC-2 trial showed promising results in the ESR1m population, meeting its primary endpoint, which aligns with the performance of competitor SERDs. Although the trial did not meet the primary endpoint in the ITT population, the management remains optimistic about the potential commercial opportunity once detailed data is presented at an upcoming medical conference.
Furthermore, Arvinas is preparing for a regulatory filing that could lead to a product launch by the first half of 2026, assuming approval. The company’s strategic focus on the ESR1m population, which could see broad adoption if a significant progression-free survival benefit is demonstrated, adds to the attractiveness of the stock. Despite recent market sell-off, the analyst views this as an overreaction, presenting a favorable entry point for investors. The potential for significant sales and market share, along with ongoing trials and regulatory preparations, supports the Buy rating with a price objective of $28.
According to TipRanks, Ahmad is an analyst with an average return of -2.8% and a 43.94% success rate. Ahmad covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Ascendis Pharma, and Arvinas Holding Company.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $26.00 price target.
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