Analyst Sam Slutsky from LifeSci Capital maintained a Buy rating on ArriVent BioPharma, Inc. and decreased the price target to $37.00 from $38.00.
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Sam Slutsky has given his Buy rating due to a combination of factors including the promising clinical data and strategic development plans of ArriVent BioPharma, Inc. The company’s lead asset, firmonertinib, has shown strong efficacy in the treatment of EGFR PACC NSCLC, with notable improvements in confirmed overall response rates and median duration of response in ongoing trials.
Furthermore, ArriVent’s upcoming Phase 3 trial for firmonertinib in the first-line setting for PACC patients, alongside its robust pipeline, positions the company well in the competitive landscape. The financial outlook, with a manageable cash burn and sufficient runway, also supports the Buy rating. These elements collectively suggest a positive growth trajectory for ArriVent BioPharma, Inc., justifying the recommendation.
In another report released yesterday, JonesTrading also initiated coverage with a Buy rating on the stock with a $45.00 price target.