BTIG analyst Justin Zelin lowered the firm’s price target on Aravive to $9 from $12 and keeps a Buy rating on the shares. At current levels, the stock ascribes little to no value to the company’s lead program – the upcoming topline data readout for the Phase 3 AXLerate-OC trial of batiraxcept – implying a positive risk-reward skew of +200%/-50% on the event, the analyst tells investors in a research note. Data from the Phase 1b study of AVB-500 in platinum-resistant ovarian cancer has shown a compelling safety profile with no DLTs or drug-related discontinuations, indicating little to no additive toxicity with paclitaxel, the firm states, adding that should the favorable AE profile translate to the Phase 3 trial, it sees positive leadthrough to other indications outside PROC.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ARAV:
- Aravive PROC readout ‘not getting enough attention,’ says Cantor Fitzgerald
- Aravive files $250M mixed securities shelf
- Aravive Reports Inducement Grant Under Nasdaq Listing Rule 5635(c)
- Aravive To Participate in the Jefferies Global Healthcare Conference
- Aravive Announces Phase 3 Trial Design for Batiraxcept in Clear Cell Renal Cell Carcinoma