LifeSci Capital analyst Sam Slutsky maintained a Buy rating on ArriVent BioPharma, Inc. yesterday and set a price target of $36.00.
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Sam Slutsky’s rating is based on the promising performance of ArriVent BioPharma’s firmonertinib in recent clinical trials. The drug demonstrated a strong overall response rate in patients with non-classical EGFR mutations, outperforming a competitor’s product in similar trials. The 240 mg QD dose of firmonertinib showed a confirmed overall response rate of 68.2% and a median progression-free survival of 16 months, which are significant indicators of its efficacy.
Additionally, firmonertinib’s safety profile appears more favorable compared to the competitor’s treatment, with fewer severe adverse effects reported. The ongoing development of firmonertinib, including a planned Phase 3 trial, further supports its potential as a leading treatment option. These factors combined provide a strong foundation for the Buy rating, reflecting confidence in the company’s future performance and market position.
In another report released on November 25, Truist Financial also initiated coverage with a Buy rating on the stock with a $43.00 price target.