Derek Archila, an analyst from Wells Fargo, maintained the Buy rating on Arvinas Holding Company (ARVN – Research Report). The associated price target is $19.00.
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Derek Archila’s rating is based on the potential of Arvinas Holding Company’s early-stage pipeline, which is expected to drive future share value. Although the recent VERITAC-2 trial results for vepdeg did not significantly alter the current sentiment due to its modest differentiation, the company’s long-term prospects remain promising.
Archila notes that while vepdeg’s progression-free survival benefit was in line with expectations, its safety profile offers only a slight advantage over competitors. Despite these modest results, the company’s strategic focus on developing its early-stage assets is seen as a key factor for potential growth, justifying the Buy rating.
In another report released today, Barclays also maintained a Buy rating on the stock with a $16.00 price target.
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