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 scientific and market potential. Roy anticipates that the upcoming presentation of Phase 2 clinical data for ACR-368 will showcase its effectiveness in treating ovarian cancer, with a particular focus on patients who have the OncoSig biomarker. The potential for ACR-368 to also provide benefits to OncoSig-negative patients, when combined with low dose gemcitabine, enhances the drug’s market prospects. Moreover, there is an expectation of gaining additional insights from coexisting trials for endometrial and bladder cancers.
In addition to these specific drug-related prospects, Roy’s assessment is underpinned by the company’s valuation, which is currently about 10% of the enterprise value (EV) of its peers in genome-based platform companies, suggesting an attractive investment opportunity. The distinctive approach of Acrivon in using proteomic-based biomarker identification for precision therapeutics, rather than genetic markers, and the rapid development time for such biomarkers, positions the company to potentially accelerate the clinical validation process for their drug candidates. This innovative platform could lead to significant improvements in clinical outcomes, thereby bolstering the company’s value proposition and justifying the Buy rating.
According to TipRanks, Roy is an analyst with an average return of -7.0% and a 26.37% success rate. Roy covers the Healthcare sector, focusing on stocks such as Cassava Sciences, Precision BioSciences, and Day One Biopharmaceuticals.
In another report released on April 19, Piper Sandler also assigned a Buy rating to the stock with a $26.00 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 files to sell 15.295M shares of common stock for holders
- Acrivon Therapeutics to Host Corporate R&D Event Highlighting AP3 and Pipeline Progress, Including Ongoing Prospective Validation of ACR-368 OncoSignature with Initial Phase 2 Data for ACR-368, and Preclinical Progress for ACR-2316
- Acrivon Therapeutics presents data at AACR meeting
- 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
