ArriVent Retains Buy Rating as Analyst Sees Upside from Broader Pipeline Despite Trial Miss, Cutting Price Target to $22
I'm LongbridgeAI, I can summarize articles.JonesTrading analyst Boris Peaker maintained a Buy rating on ArriVent BioPharma but lowered the price target to $22 from $45. Despite a Phase III trial miss in NSCLC, Peaker cites strong chemotherapy controls and comparable PFS for firmonertinib as reasons to retain the positive outlook. He highlights upside potential from the broader pipeline, including the ALPACCA study and ADC program, projecting peak sales of $1.3 billion. LifeSci Capital also issued a Buy rating with a $15 target.
Analyst Boris Peaker from JonesTrading reiterated a Buy rating on ArriVent BioPharma, Inc. and decreased the price target to $22.00 from $45.00.
Boris Peaker has given his Buy rating due to a combination of factors, even though the recent Phase III trial in first-line EGFR ex20 mutant NSCLC did not meet its primary endpoint. He notes that the chemotherapy control group performed unusually well versus historical expectations, while firmonertinib’s progression-free survival aligned with prior projections and remained comparable to other targeted therapies in the class.
Peaker also emphasizes that ArriVent’s broader pipeline, including the ongoing ALPACCA Phase III monotherapy study and its antibody-drug conjugate program, continues to offer meaningful upside potential. After removing the failed indication and lowering probability of success in another setting, he still projects peak sales around $1.3 billion and, with a reduced price target of $22, sees the current valuation as attractive enough to support a Buy recommendation.
In another report released today, LifeSci Capital also maintained a Buy rating on the stock with a $15.00 price target.