Piper Sandler lowered the firm’s price target on Arvinas (ARVN) to $14 from $24 by removing vepdegestrant value, while keeping an Overweight rating on the shares. The firm notes the Phase III VERITAC-2 trial of vepdegestrant met the primary mPFS endpoint vs. fulvestrant in 2nd-line ESR1-mutant ER+/HER2- mBC patients, and Arvinas will present data at ASCO on May 31st. Arvinas and Pfizer will submit regulatory filings in the second half of 2025, which could lead to monotherapy approval in 2026, however will not initiate Phase III combo trials.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ARVN:
- Arvinas Holding Company: Buy Rating Affirmed Amidst Promising Vepdeg Potential and Strong Financial Position
- Arvinas downgraded to Hold from Buy at TD Cowen
- Arvinas price target lowered to $16 from $32 at Barclays
- Arvinas Reports Strong Q1 2025 Results and Strategic Shift
- Arvinas downgraded to Hold at Jefferies after Vepdeg development decision