Analyst Tazeen Ahmad of Bank of America Securities reiterated a Buy rating on Arvinas Holding Company (ARVN – Research Report), reducing the price target to $54.00.
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Tazeen Ahmad has given his Buy rating due to a combination of factors highlighting Arvinas Holding Company’s promising outlook. The company is advancing its clinical trials, specifically the initiation of two phase 3 trials of vepdegestrant in 2025, which showcase strong potential in combination therapies. The decision to combine with atirmociclib is based on promising early data, which adds to the optimism surrounding these trials.
Additionally, the imminent topline readout for the VERITAC-2 phase 3 trial in early 2025 is a critical factor in the Buy rating. The company aims to achieve significant progression-free survival benefits in specific patient populations, which could set a new standard over existing treatments. Arvinas is also making strides with its other pipeline projects, including advancements in Parkinson’s disease and non-Hodgkin lymphoma. These developments, combined with financial assessments leading to a price objective of $54, underpin the positive recommendation.
According to TipRanks, Ahmad is a 2-star analyst with an average return of 0.4% and a 47.29% success rate. Ahmad covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Sarepta Therapeutics, and Ascendis Pharma.
In another report released today, Barclays also maintained a Buy rating on the stock with a $32.00 price target.