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.
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