Arvinas pullback a buying opportunity, says Capital One

Capital One analyst Zegbeh Jallah believes that the market is assuming that "there is no path forward" for ARV-471 plus palbociclib following Arvinas’ recent announcement of a delayed start of a Phase 3 combo study, but Jallah believes this is not the case. Even if this were to be the case, the current market cap underestimates the potential of not only ARV-471 as a monotherapy and additional combos, but also Arvinas’ pipeline, argues the analyst, who believes the recent pullback is a buying opportunity. Jallah has an Overweight rating and $88 price target on Arvinas shares.