ArriVent Biopharma price target raised to $47 from $32 at Clear Street

Clear Street analyst Kaveri Pohlman raised the firm’s price target on ArriVent Biopharma (AVBP) to $47 from $32 and keeps a Buy rating on the shares, citing heightened conviction in the success of the first-line Phase 3 Alpacca trial for PACC-mutated NSCLC based on an analysis of historical afatinib and osimertinib outcomes for both ORR and PFS. The firm raised its view of the probability of success to 65% from 30%, the analyst noted.