As previously reported, Wedbush analyst Robert Driscoll downgraded Arvinas (ARVN) to Neutral from Outperform with a price target of $12, down from $57, after the company reported topline VERITAC-2 data in patients with ER+/HER2- breast cancer previously treated with CKD4/6 inhibitors plus endocrine therapy. Vepdeg demonstrated a statistically significant improvement in PFS in the ESR1 mutant population compared to patients treated with fulvenstrant, exceeding the prespecified target hazard ratio of 0.60. However, vepdeg did not meet statistically significant improvement in PFS in the ITT, Wedbush notes. Overall survival remains immature, with less than 25% of events occurring currently.
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Read More on ARVN:
- Arvinas price target lowered to $20 from $82 at BMO Capital
- Cautious Outlook on Arvinas Holding: Hold Rating Maintained Amid Mixed VERITAC-2 Trial Results
- Arvinas downgraded to Neutral from Outperform at Wedbush
- Arvinas price target lowered to $26 from $60 at Wells Fargo
- BofA lowers Arvinas price target to $28, calls selloff ‘overdone’
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