Wells Fargo Upgrades Arvinas Inc. (ARVN) to Overweight, 'risk/reward is highly favorable'

Wells Fargo analyst Derek Archila upgraded Arvinas Inc. (NASDAQ: ARVN) from Equal Weight to Overweight with a price target of $63.00.

The analyst comments "After a fairly quiet 2023 and with some less than ideal updates on execution, we are now within 12 months of a material potential catalyst for the company's lead asset vepdegestrant. We believe the Phase 3 data for vepdegestrant monotherapy in ER+ breast cancer
has a high POS of being positive and with shares trading at near cash, we think the risk/reward is highly favorable.(Overweight rated)"

For an analyst ratings summary and ratings history on Arvinas Inc. click here. For more ratings news on Arvinas Inc. click here.

Shares of Arvinas Inc. closed at $35.43 yesterday.

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