Wells Fargo lowered the firm’s price target on Arvinas (ARVN) to $16 from $19 and keeps an Overweight rating on the shares. The firm thinks Pfizer’s (PFE) waning interest in vepdeg could lead to Arvinas getting it back but, given where the stock trades, this seems priced in. Arvinas won’t launch solo. With runway to the second half of 2028, Wells thinks focus shifts to its early-stage pipeline, which can create value.
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