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Clear Street reduces the target price of ArriVent Biopharma from $47 to $22
Businessinsider
1h ago
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Clear Street has lowered the target price of ArriVent Biopharma (AVBP) from $47 to $22, while maintaining a buy rating. The institution stated that the third-phase FURVENT trial of Firmonertinib did not meet expectations, mainly due to the chemotherapy group performing better than anticipated; according to an independent central review by blind method, the 9.5-month median progression-free survival period was a key risk point of the trial.
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Clear Street has lowered the target price of ArriVent Biopharma ( AVBP ) from $47 to $22, while maintaining a buy rating for the stock.

In a research report sent to investors, the institution stated that the Phase III FURVENT trial of Firmonertinib did not meet expectations, mainly due to the chemotherapy group performing better than anticipated; according to the blinded independent central review, the median progression-free survival was 9.5 months. However, the PFS in the chemotherapy group varied across different studies, which is a key risk of this trial.

The institution added that the 11-month PFS of Firmonertinib was generally in line with its expectations for 10 months.

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Disclaimer and Disclosure Report Issues

ArriVent Biopharma price target lowered to $22 from $45 at Jones

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ArriVent Biopharma price target lowered to $18 from $45 at Jefferies

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