H.C. Wainwright analyst Emily Bodnar has maintained their bullish stance on ACRV stock, giving a Buy rating yesterday.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Emily Bodnar’s rating is based on the promising clinical data updates from Acrivon Therapeutics, Inc., particularly regarding their ACR-368 and ACR-2316 programs. The company has shown significant efficacy in treating endometrial cancer, with a confirmed objective response rate (cORR) of 35% and a disease control rate (DCR) of 80% in OncoSignature-positive patients. This is notably higher compared to previous therapies, indicating strong potential for the treatment’s success.
Additionally, Acrivon’s strategic decision to add a third cohort in their Phase 2b trial, which does not require a pre-treatment biopsy, could streamline patient enrollment and make the trial more accessible. This approach may lead to a cORR in the range of 20-30%, which is still favorable for patients who have exhausted other treatment options. The early clinical activity observed in their Phase 1 trial of ACR-2316, including tumor shrinkage, further supports the positive outlook for the company’s pipeline, contributing to the Buy rating.
In another report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $8.00 price target.