BofA raised the firm’s price target on Arvinas (ARVN) to $12 from $10 and keeps a Neutral rating on the shares after the company presented new phase 1 results for ARV-102 that showed “encouraging” pharmacodynamics and “strong” biomarker activity. The firm is “encouraged” by these results, which it says establish early biological proof-of-concept for the oral brain-penetrant PROTAC degrader of LRRK2.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ARVN:
- Arvinas Announces Positive Phase 1 Trial Results
- Arvinas presents data from two Phase 1 trials for ARV-102
- Amazon upgraded, Adobe downgraded: Wall Street’s top analyst calls
- Arvinas downgraded to Neutral from Buy at BofA
- Arvinas Holding: Strategic Shifts and Cost Optimization Amidst Competitive SERD Landscape