TD Cowen analyst Tyler Van Buren has maintained their bullish stance on ARVN stock, giving a Buy rating on February 3.
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Tyler Van Buren’s rating is based on the promising outlook for Arvinas Holding Company’s key drug candidate, vepdeg, which is being developed in collaboration with Pfizer. The upcoming Phase III VERITAC-2 trial results for vepdeg as a monotherapy in metastatic breast cancer are expected soon, and if positive, could lead to a significant milestone as it would support a New Drug Application (NDA) for a novel PROTAC degrader. Management anticipates vepdeg to show improved progression-free survival compared to current treatments, which, if confirmed, could position the drug favorably in the market.
Furthermore, the strategic decision to prioritize atirmociclib in combination with vepdeg for a Phase III trial in first-line breast cancer treatment highlights the company’s commitment to expanding its therapeutic offerings. This combination therapy is seen as a promising avenue for growth, especially with the potential validation from ongoing trials and regulatory discussions. These developments collectively contribute to a positive investment thesis and justify the Buy rating for Arvinas’ stock.
According to TipRanks, Van Buren is an analyst with an average return of -2.4% and a 39.58% success rate. Van Buren covers the Healthcare sector, focusing on stocks such as Regeneron, BridgeBio Pharma, and Olema Pharmaceuticals.
In another report released on February 3, Barclays also reiterated a Buy rating on the stock with a $32.00 price target.