Ladenburg ‘more suspicious’ about Acrivon upcoming data, cuts target

Ladenburg analyst Aydin Huseynov lowered the firm’s price target on Acrivon Therapeutics to $14 from $18 and keeps a Buy rating on the shares. The firm is “growing more suspicious” about the upcoming prexasertib data release which the company plans to do in the first half of 2024. Given its Phase 1b/2 is an open-label trial, Acrivon would have already reported materially meaningful responses by now, the analyst tells investors in a research note. The firm reduced its probability of success prexasertib to 40% from 50%.