ArriVent Biopharma price target raised to $45 from $37 at B. Riley

B. Riley raised the firm’s price target on ArriVent Biopharma (AVBP) to $45 from $37 and keeps a Buy rating on the shares. Following Dizal’s positive Phase 3 WU-KONG28 results showing sunvozertinib beat chemotherapy in 1L EGFR exon20ins non-small cell lung cancer, confidence in the EGFR TKI class has strengthened, supporting the outlook for ArriVent’s firmonertinib, the analyst tells investors in a research note. Given firmonertinib’s brain penetration and the more Western-weighted enrollment of the Phase 3 FURVENT trial, ArriVent could potentially deliver a stronger PFS benefit and a more FDA-aligned dataset relative to prior studies, the firm says.