Citi analyst Yigal Nochomovitz has maintained their bullish stance on AVBP stock, giving a Buy rating on July 10.
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Yigal Nochomovitz has given his Buy rating due to a combination of factors related to ArriVent BioPharma, Inc.’s promising developments and strategic advancements. The company’s lead drug, firmo, shows differentiated activity in treating NSCLC EGFR mutations, particularly exon 20 insertions, and demonstrates significant CNS activity. This promising profile is supported by recent data updates in the 1L PACC segment, which led to an increased target price reflecting a higher probability of success in this area.
Furthermore, the initiation of the Phase 3 ALPACCA study and the anticipated topline data from the pivotal FURVENT study later this year are expected to bolster investor confidence. Additionally, the company’s continued progress in their ADC pipeline adds to the positive outlook. With an expected share price return of 82.6%, Nochomovitz’s rating reflects a strong belief in the stock’s potential upside, despite the high-risk classification.
In another report released on July 10, Goldman Sachs also initiated coverage with a Buy rating on the stock with a $33.00 price target.
AVBP’s price has also changed moderately for the past six months – from $24.480 to $21.900, which is a -10.54% drop .