Artiva Biotherapeutics price target raised to $41 from $18 at Needham

Needham analyst Gil Blum raised the firm’s price target on Artiva Biotherapeutics (ARTV) to $41 from $18 and keeps a Buy rating on the shares after the company’s initial Clinical Data with AlloNK. The combined ACR50/mACR50 rate was 77% – well above the firm’s upside scenario – while the relatively small size of the study is a testament to the strength of these early results, the analyst tells investors in a research note. The results represent the best possible outcome at this early stage, and the firm also considers the relative weakness in the stock as a “strong buying opportunity”, Needham added.