Optimistic Buy Rating for Acrivon Therapeutics, Inc. Driven by Promising ACR-368 Trial DevelopmentsValuation and Risks. Our Buy rating and $19 price target are based on a discounted cash flow analysis (DCF). In our DCF, we extend our estimates to 2038 and assign a 12% discount rate and 0% terminal value, which is in-line with other companies in our coverage with platform technologies. We currently assume value for ACR-368 for OncoSignature positive 2L endometrial cancer, with a 45% 2L ovarian cancer with a 20% POS, and have not included other pipeline assets or indications in our valuation.