H.C. Wainwright analyst Emily Bodnar has maintained their bullish stance on ACRV stock, giving a Buy rating yesterday.
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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.