H.C. Wainwright analyst Robert Burns reiterated a Buy rating on PMV Pharmaceuticals today and set a price target of $5.00.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Robert Burns has given his Buy rating due to a combination of factors surrounding PMV Pharmaceuticals’ recent developments. The updated data from the Phase 2 PYNNACLE trial for rezatapopt in ovarian cancer shows promising results, with a 46% overall response rate in the ovarian cancer cohort, which is competitive with other treatments like Elahere and relacorilant. This positions rezatapopt as a strong candidate for a New Drug Application filing, particularly given the challenging prognosis for TP53 Y220C-mutated ovarian cancer patients.
Furthermore, PMV Pharmaceuticals has outlined a clear plan to enroll additional patients and expects to submit an NDA by the end of the first quarter of 2027. This strategic approach, coupled with the promising trial data, supports the potential for significant advancements in treatment options for ovarian cancer. These factors contribute to the reiteration of the Buy rating and a 12-month price target of $5 per share.