H.C. Wainwright analyst Andrew Fein lowered the firm’s price target on Arvinas to $87 from $90 and keeps a Buy rating on the shares. Given the collaboration agreement and the offloading of ARV-766, the firm adjusted its valuation to account for ARV-766’s value as a combination of milestone payments and low double-digit tiered royalties.
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Read More on ARVN:
- Arvinas Partners with Novartis on Prostate Cancer Therapy
- Arvinas enters exclusive strategic license agreement with Novartis for ARV-766
- Arvinas Enters into a Transaction with Novartis, including a Global License Agreement for the Development and Commercialization of PROTAC® Androgen Receptor (AR) Protein Degrader ARV-766 for the Treatment of Prostate Cancer
- Arvinas Appoints New Chief Medical Officer for Clinical Programs
- Arvinas names Noah Berkowitz as Chief Medical Officer
