Citi analyst Yigal Nochomovitz downgraded Arvinas to Neutral from Buy with a price target of $55, up from $36. The analyst sees a balanced risk/reward following the stock’s recent rally. Arvinas has risen over 200% in the past three months, fueled in part by the vepdegestrant plus palbociclib Phase 1b efficacy update, the analyst tells investors in a research note. Citi cites valuation for the downgrade.
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