BofA analyst Tazeen Ahmad raised the firm’s price target on Arvinas (ARVN) to $16 from $14 and keeps a Neutral rating on the shares. Arvinas and Pfizer (PFE) entered into a license agreement with Rigel Pharmaceuticals (RIGL) for the rights for Veppanu. The firm believes Rigel makes sense as a commercial partner given the company already has an established U.S. commercial presence in oncology. BofA told investors that it still thinks Arvinas’ early-stage pipeline needs clinical de-risking.
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