TD Cowen analyst Marc Frahm has maintained their bullish stance on ACRV stock, giving a Buy rating on May 5.
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Marc Frahm has given his Buy rating due to a combination of factors influencing Acrivon Therapeutics, Inc. The company’s ACR-368 monotherapy has shown promising results with a 35% objective response rate in patients with endometrial cancer, which is significantly better than the response rates seen with second-line salvage chemotherapy. This positive outcome, despite a decrease from previous data, indicates a strong potential for the treatment in the targeted patient population.
Furthermore, Acrivon’s strategic decision to focus on endometrial cancer, while deprioritizing other cancer indications, allows for an extended cash runway into the second quarter of 2027. This financial strategy, combined with the ongoing development of ACR-2316 and its encouraging early-phase data, supports the company’s growth prospects. These elements together form the basis for Marc Frahm’s optimistic outlook and Buy rating for Acrivon Therapeutics, Inc.
In another report released on May 5, Piper Sandler also initiated coverage with a Buy rating on the stock with a $6.00 price target.