Truist Securities keeps Affimed Therapeutics (AFMD) at Buy, 'believe that PFS of 7 months might be needed for the combo to be competitive'

Truist Securities analyst Srikripa Devarakonda reiterated a Buy rating and $25.00 price target on Affimed Therapeutics (NASDAQ: AFMD).

The analyst commented: "This AM, AFMD provided an update for AFM24-102 trial assessing AFM24 + Atezo in R/R EGFRmut & EGFRwt NSCLC. Stock is down pre-market (~25%) likely on mPFS that didn't meet the expectations for investors. While the combo continues to demonstrate activity the mPFS is 5.6 months; we believe that PFS of 7 months might be needed for the combo to be competitive. This is also in-line with commentary from mgmt. Post-hoc exposure analysis suggests that pts treated at the high dose of 480 mg leads to higher ORR, PFS and OS. The company will continue enrolling at 720 mg to test this hypothesis."

For an analyst ratings summary and ratings history on Affimed Therapeutics click here. For more ratings news on Affimed Therapeutics click here.

Shares of Affimed Therapeutics closed at $2.13 yesterday.

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