Maxim Group analyst Michael Okunewitch has maintained their bullish stance on ACRV stock, giving a Buy rating today.
Michael Okunewitch has given his Buy rating due to a combination of factors, primarily focusing on the promising data from Acrivon Therapeutics’ endometrial cancer program. Despite the decision to deprioritize ovarian and bladder cancer programs, the endometrial cancer data shows significant clinical benefits, with a notable objective response rate and disease control rate, which are impressive compared to previous therapies.
Furthermore, the company’s financial position appears stable, with a cash runway extended into 2027, allowing continued focus on their promising programs. The innovative approach using the OncoSignature assay to identify likely responders to ACR-368 enhances the potential for successful outcomes in targeted patient groups. These factors contribute to the confidence in maintaining a Buy rating, even with a revised price target.
In another report released today, JonesTrading also reiterated a Buy rating on the stock with a $7.00 price target.
ACRV’s price has also changed dramatically for the past six months – from $7.000 to $2.030, which is a -71.00% drop .