Analyst Soumit Roy from JonesTrading maintained a Buy rating on Acrivon Therapeutics, Inc. (ACRV – Research Report) and keeping the price target at $26.00.
Soumit Roy has given his Buy rating due to a combination of factors surrounding Acrivon Therapeutics, Inc.’s promising pipeline and their innovative AP3 platform’s capabilities. Roy’s optimism stems from the recent preclinical data that highlighted the potential of Acrivon’s drug, ACR-368, to be a first-in-class therapy and its ability to counteract drug resistance. The company’s ongoing Phase 1/2 trial for ACR-368 and the upcoming IND filing for ACR-2316 further support a positive outlook, with significant data expected to be presented at the upcoming ASCO conference.
The anticipated clinical updates for ACR-368, both as a monotherapy and in combination with low-dose gemcitabine, specifically target OncoSignature-positive and OncoSignature-negative patient populations, showcasing tailored treatment strategies. The preclinical findings that were presented at AACR suggest that low-dose gemcitabine could potentially sensitize resistant cancers, enhancing the efficacy of ACR-368. Furthermore, the company’s substantial cash reserves, as reported, provide a solid financial foundation to support ongoing and future clinical trials. These factors collectively underpin Roy’s Buy rating for Acrivon Therapeutics, Inc.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $20.00 price target.
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Acrivon Therapeutics, Inc. (ACRV) Company Description:
Acrivon Therapeutics Inc is a clinical-stage biopharmaceutical company developing oncology medicines that the Company matches to patients whose tumors are predicted to be sensitive to each specific medicine by utilizing its proteomics-based patient responder identification platform. The company’s pipeline includes the Phase 2 lead program, ACR-368, referred to as prexasertib, a targeted oncology asset, as well as preclinical stage pipeline programs targeting critical nodes in the DNA Damage Response and cell cycle regulation pathways, including WEE1, a protein kinase, and PKMYT1, a closely related protein serine/threonine kinase.
Read More on ACRV:
- Acrivon Therapeutics Presents Data at AACR Annual Meeting Highlighting the Capabilities of Acrivon Predictive Precision Proteomics (AP3) for the Discovery of ACR-2316, a Novel, Selective WEE1/PKMYT1 Inhibitor, and the Identification of Actionable Resistance Mechanisms to ACR-368
- Acrivon Therapeutics Secures $130M for Drug Development Expansion
- Acrivon to sell 8.24M shares at $8.50 in private placement financing
- Ladenburg ‘more suspicious’ about Acrivon upcoming data, cuts target
- Acrivon Therapeutics price target lowered to $21 from $25 at Oppenheimer
