In a report released yesterday, Tazeen Ahmad from Bank of America Securities maintained a Hold rating on Arvinas Holding Company, with a price target of $12.00.
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Tazeen Ahmad’s rating is based on several key observations regarding Arvinas Holding Company’s performance and prospects. The recent phase 3 VERITAC-2 study results for vepdegestrant (vepdeg) demonstrated significant quality-of-life benefits for patients with advanced breast cancer, highlighting its potential clinical value. However, despite these promising outcomes, the commercial strategy for vepdeg remains uncertain, as Arvinas and Pfizer are still seeking a third-party partner to aid in its commercialization.
Additionally, while the phase 2 TACTIVE-N study confirmed vepdeg’s efficacy in reducing tumor markers and maintaining a consistent safety profile, the future development plans for this program are still unclear. These factors contribute to a cautious outlook, reflected in the Hold rating, as the company navigates potential partnerships and awaits further clarity on its commercial strategy. The current stock price of $9.43, with a price objective of $12.00, also suggests limited immediate upside potential, reinforcing the decision to maintain a neutral stance.
In another report released on October 7, Citi also maintained a Hold rating on the stock with a $10.00 price target.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ARVN in relation to earlier this year.