TD Cowen analyst Marc Frahm has maintained their bullish stance on ACRV stock, giving a Buy rating on August 14.
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Marc Frahm has given his Buy rating due to a combination of factors related to Acrivon Therapeutics, Inc.’s promising clinical developments and financial positioning. The company’s ACR-368 monotherapy has demonstrated a notable 35% objective response rate in biomarker-positive endometrial cancer patients, which is significantly better than the typical response rate seen with second-line salvage chemotherapy. This positive outcome suggests a strong potential for regulatory approval, as Acrivon plans to discuss a path forward for approval based on single-arm data by the end of 2025.
Moreover, Acrivon’s ongoing Phase I trial of ACR-2316, a dual WEE1/PKMYT1 inhibitor, is showing promising signs of activity, with initial data expected in the second half of 2025. Financially, the company reported a net loss of $21 million for the second quarter but maintains a robust cash reserve of $148 million, which is expected to support operations into the second quarter of 2027. These factors collectively underpin Marc Frahm’s confidence in Acrivon’s potential for growth and success, justifying the Buy rating.
In another report released on August 14, Oppenheimer also reiterated a Buy rating on the stock with a $8.00 price target.