BTIG analyst Jeet Mukherjee has reiterated their bullish stance on ARVN stock, giving a Buy rating yesterday.
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Jeet Mukherjee’s rating is based on several key considerations. Despite the initial setback in the overall trial population, the VERITAC-2 study showed promising results in the ESR1m patient subgroup, with a statistically significant improvement in progression-free survival. This suggests that Arvinas Holding Company, in collaboration with Pfizer, has a viable opportunity to compete in the market for selective estrogen receptor degraders (SERDs) targeting this specific patient population.
Furthermore, Arvinas is financially well-positioned with $1 billion in cash and is trading at a negative enterprise value, indicating potential for stock revaluation. The anticipated clinical data from the LRRK2 and BCL6 programs later this year could further enhance the company’s prospects. Thus, Mukherjee maintains a Buy rating with a price target of $69, reflecting confidence in Arvinas’ strategic direction and potential market success.
According to TipRanks, Mukherjee is ranked #7937 out of 9347 analysts.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $26.00 price target.