ArriVent Biopharma initiated with a Buy at H.C. Wainwright

H.C. Wainwright initiated coverage of ArriVent Biopharma with a Buy rating and $25 price target. The analyst says the Phase 1b data positions furmonertinib favorably versus the majority of competitor agents. The firm believes furmonertinib could achieve peak total annual sales of roughly $1.1B by 2035 in the U.S. and Europe.