Leerink Partners analyst Andrew Berens has maintained their bullish stance on ARVN stock, giving a Buy rating on May 2.
Andrew Berens has given his Buy rating due to a combination of factors surrounding Arvinas Holding Company’s strategic decisions and future potential. The company has made a significant move by reprioritizing its development plan for vepdegestrant, a drug with promising potential in the treatment of certain cancer types. This decision aligns with their partner Pfizer’s perspective, focusing on the drug’s efficacy in patients with specific ESR1 mutations, which could lead to a more targeted and effective treatment approach.
Furthermore, Arvinas remains confident in the differentiation of vepdegestrant compared to existing treatments, particularly in the 2L+ setting, and plans to submit a New Drug Application to the FDA by the second half of 2025. The company’s strategy to allocate resources to other pipeline programs while awaiting more mature data reflects a prudent approach to maximizing the drug’s commercial potential. These strategic moves, along with the anticipated presentation of the full VERITAC-2 dataset, are expected to strengthen Arvinas’s position in the market, contributing to Berens’s positive outlook and Buy rating.
In another report released on May 2, Barclays also maintained a Buy rating on the stock with a $16.00 price target.
ARVN’s price has also changed dramatically for the past six months – from $26.900 to $7.230, which is a -73.12% drop .