Oppenheimer analyst Mark Breidenbach lowered the firm’s price target on Arvinas to $95 from $102 and keeps an Outperform rating on the shares after meeting with management to discuss key 2023 milestones, primarily focusing on next steps for ARV-471 in ER+/HER2- breast cancer. While the pivotal VERITAC-2 monotherapy trial of ‘471 is actively enrolling patients, management now expects to initiate the pivotal VERITAC-3 combination trial of ‘471 + palbociclib in the second half of 2023 versus Q1 2023. The also notes that management plans to seek alignment with the FDA on potential VERITAC-3 protocol amendments that may implement reduced palbociclib dosing.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on ARVN:
- Arvinas to Present at 41st Annual J.P. Morgan Healthcare Conference
- Wells Fargo downgrades Arvinas to Equal Weight, lowers price target to $49
- Barclays views GSK acquisition interest as positive for oncology stocks
- Arvinas downgraded to Equal Weight from Overweight at Wells Fargo
- Arvinas appoints Everett Cunningham to board of directors