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Investing.com - H.C. Wainwright has reiterated its Buy rating and $40.00 price target on ArriVent BioPharma (NASDAQ:AVBP), following the company’s announcement regarding its Phase 3 FURVENT trial. Currently trading at $21.55, the stock has significant upside potential according to analysts, with targets ranging from $33 to $45. InvestingPro data shows the company maintains a "GOOD" overall financial health score.
ArriVent management disclosed that top-line results from the Phase 3 FURVENT trial are expected in early 2026. The trial is evaluating firmonertinib against platinum-based chemotherapy in first-line EGFR Exon20 insertion-positive non-small cell lung cancer (NSCLC) patients. The company’s strong liquidity position, with a current ratio of 14.34 and more cash than debt, provides robust support for its clinical development programs.
The research firm highlighted previous results from the Phase 1b FAVOUR trial, which showed firmonertinib 240mg QD achieved a 78.6% objective response rate (ORR) in treatment-naïve patients and 46.2% ORR in pretreated patients with EGFR exon 20 insertion mutation-positive NSCLC.
H.C. Wainwright noted these results compare favorably to competitor agents, with the drug showing 0% Grade 3 or higher rates of diarrhea and rash, which are known side effects from targeting wild-type EGFR.
Based on these prior clinical results, the research firm views the upcoming Phase 3 top-line readout as "relatively risk-mitigated" and maintains its 12-month price target of $40 for ArriVent BioPharma. Get deeper insights into AVBP’s valuation metrics and 6 additional key investment tips with InvestingPro.
In other recent news, ArriVent BioPharma has announced a $75 million public offering of common stock and pre-funded warrants, with a 30-day option for underwriters to purchase an additional 15% of the total securities. This offering is being managed by Goldman Sachs, Citigroup (NYSE:C), and Guggenheim Securities. Additionally, ArriVent has updated its timeline for the pivotal Phase 3 FURVENT study of firmonertinib for first-line EGFR exon20 insertion mutant non-small cell lung cancer, with topline results now expected in early 2026. The company completed enrollment for the trial in early 2025, involving 398 patients across the United States, Europe, and parts of Asia.
In terms of analyst ratings, Oppenheimer has reiterated its Outperform rating with a price target of $44.00. Goldman Sachs has resumed coverage with a Buy rating and a $33.00 price target, citing a high probability of competitive clinical efficacy for the FURVENT trial. Clear Street also maintains a Buy rating and a $32.00 price target, despite the approval of a competitor drug, sunvozertinib, for second-line treatment. Both firmonertinib and sunvozertinib show an objective response rate of 78.6%, but firmonertinib has demonstrated a slightly longer median progression-free survival. These developments highlight ArriVent’s ongoing efforts in advancing its clinical programs and maintaining investor confidence.
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