Arvinas Holding Company (ARVN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Terence Flynn from Morgan Stanley maintained a Hold rating on the stock and has a $48.00 price target.
Terence Flynn has given his Hold rating due to a combination of factors related to the recent Phase 3 VERITAC-2 trial results for Arvinas Holding Company. The trial, which focused on the efficacy of vepdegestrant in treating ER+/HER2- advanced breast cancer, showed promising results in the ESR1-mutant population with a significant improvement in progression-free survival. However, the trial did not achieve statistical significance in the broader intent-to-treat population, which tempers the overall impact of the results.
Additionally, while the safety profile of vepdegestrant was consistent with previous studies, the overall market opportunity for this treatment is considered limited compared to the broader revenue base of its partner, Pfizer. The results align with previous expectations but do not provide a strong enough case to significantly boost Arvinas’ stock value. As a result, Flynn maintains a cautious outlook, awaiting further data presentations and regulatory developments before revising his recommendation.
In another report released yesterday, Citi also maintained a Hold rating on the stock with a $10.00 price target.
ARVN’s price has also changed dramatically for the past six months – from $24.890 to $8.300, which is a -66.65% drop .
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