UBS lowered the firm’s price target on Arvinas (ARVN) to $21 from $74 and keeps a Buy rating on the shares. Arvinas provided updates on vepdegestrant, specifically the recent news that the company and Pfizer (PFE) have removed two planned Phase 3 trials from clinical development plans, the analyst tells investors in a research note. UBS thinks the removal of the 1L planned trial meaningfully changes the potential long-term opportunity for vepdeg.
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