Aravive price target lowered to $9 from $12 at BTIG

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.