Citi analyst Yigal Nochomovitz has maintained their bullish stance on AVBP stock, giving a Buy rating yesterday.
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Yigal Nochomovitz has given his Buy rating due to a combination of factors related to ArriVent BioPharma, Inc.’s recent clinical trial results and strategic positioning. The updated Phase 1b data has further reinforced the potential of their firmo monotherapy in treating EGFR PACC mutant NSCLC, with efficacy metrics remaining consistent with previous findings. Although there was a slight decrease in confirmed CNS ORR from 53% to 47%, the confirmed CNS CR remained stable at 41%.
Additionally, ArriVent’s upcoming Phase 3 ALPACCA trial, expected to commence in the second half of 2025, is anticipated to benefit from a first-mover advantage. The new ctDNA data showing an 82% clearance in first-line patients at a 240 mg dosage strengthens the conviction in the Phase 3 progression-free survival. The trial’s control arm, which includes options like afatinib or osimertinib, is based on real-world EGFR-TKI use, potentially allowing for responses across a broader range of PACC mutations. These factors contribute to the expected share price return of 66.5%, justifying the Buy rating.
In another report released yesterday, LifeSci Capital also reiterated a Buy rating on the stock with a $37.00 price target.