Goldman Sachs initiated coverage of Arvinas with a Buy rating and $70 price target. The company has a “differentiated” protein degrader platform that could expand several major markets, the analyst tells investors in a research note. The firm sees an attractive risk/reward on both near catalysts and Arvinas’ intermediate-to-long term commercial opportunity. Goldman says the company’s late-stage asset is “largely derisked” with upside potential from market expansion opportunities.
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