Soumit Roy, an analyst from JonesTrading, maintained the Buy rating on ArriVent BioPharma, Inc. (AVBP – Research Report). The associated price target remains the same with $40.00.
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Soumit Roy has given his Buy rating due to a combination of factors that suggest a positive outlook for ArriVent BioPharma, Inc. The company’s stock has seen a significant increase of 40% in the past two months, indicating strong momentum as they approach key data releases. The upcoming data from their Phase 1b trial in EGFR PACC mutated NSCLC is anticipated to be a pivotal moment, with expectations of positive outcomes that could further boost the stock’s valuation by 10-15%.
Moreover, the potential alignment with the FDA for a registration-enabling trial adds to the optimism surrounding the stock. The market’s recent trend of positive reactions to favorable news in the sector, despite previous volatility, suggests that ArriVent’s stock could continue to perform well if the broader market conditions remain supportive. These factors collectively underpin the Buy rating, reflecting confidence in the company’s strategic direction and potential for growth.