In a report released today, Sam Slutsky from LifeSci Capital maintained a Buy rating on ArriVent BioPharma, Inc. (AVBP – Research Report), with a price target of $38.00.
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Sam Slutsky’s rating is based on the promising data from ArriVent BioPharma’s Phase 1b FURTHER trial, which showcased the efficacy of their drug, firmonertinib, in treating NSCLC EGFR PACC mutant patients. The trial results revealed a compelling profile with a median progression-free survival of 16.0 months and a confirmed overall response rate of 68.2% in the high-dose cohort, indicating strong potential in this patient population.
Furthermore, the upcoming Phase 3 trial, which will compare firmonertinib directly against established treatments like osimertinib and afatinib, is seen as a strategic move to solidify its competitive position in the market. Despite some concerns about the trial’s design, the larger market opportunity within the EGFR PACC segment provides a significant growth potential for ArriVent. These factors combined suggest a favorable outlook for the company’s stock, justifying the Buy rating.
In another report released today, JonesTrading also initiated coverage with a Buy rating on the stock with a $45.00 price target.