Cantor Fitzgerald maintains Overweight on Acrivon Therapeutics stock

On Thursday, Cantor Fitzgerald reaffirmed its Overweight rating on shares of Acrivon Therapeutics Inc (NASDAQ:ACRV), which currently trades at $1.14 per share. The firm’s analysts highlighted recent updates from the company’s management regarding their oncology drug candidates, setting a price target range of $6-14. According to InvestingPro data, the company has a market capitalization of $35.74 million. Acrivon Therapeutics is currently developing ACR-368, a CHK1/2 inhibitor for the treatment of endometrial cancer (EC), and ACR-2316, which is a first-in-class WEE1/PKMYT1 dual-inhibitor.

The stock experienced a significant decline, with InvestingPro data showing an 86.82% drop over the past year and currently trading near its 52-week low of $1.10. Despite this performance, the analysts noted that Acrivon is advocating for Accelerated Approval (AA) from the U.S. Food and Drug Administration (FDA) based on what they consider a low benchmark in second-line (2L) treatments. While no specific timeline has been set for regulatory alignment, Acrivon’s team is focusing on this objective and is working "aggressively" to gain clarity.

The analysts’ commentary comes after insights were shared by Acrivon’s management regarding the progress and potential of their drug candidates. The company’s strategic efforts are geared towards achieving regulatory milestones that could enhance the drug’s path to market, especially given the current treatment landscape for endometrial cancer.

Acrivon Therapeutics is engaged in the development of targeted cancer therapies, and the recent developments are critical for the company’s pipeline. The endorsement by Cantor Fitzgerald reflects confidence in Acrivon’s approach to seeking FDA approval and the potential impact of its oncology drugs.

Investors and stakeholders in Acrivon Therapeutics are keeping a close watch on the company’s ongoing discussions with the FDA and the subsequent steps it will take in its drug development and approval process. The company maintains a strong balance sheet with a current ratio of 11.17, indicating solid short-term liquidity. The reaffirmation of the Overweight rating by Cantor Fitzgerald indicates a positive outlook on the company’s stock amidst its efforts to navigate the regulatory environment. For deeper insights into Acrivon’s financial health and detailed analysis, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US stocks.

In other recent news, Acrivon Therapeutics reported operating expenses of $25 million in the fourth quarter of 2024, with an earnings per share (EPS) of ($0.60). The full year’s operating expenses reached $89.2 million, resulting in an EPS of ($2.43). Acrivon’s financial position remains strong, with $179.5 million in cash and equivalents at the end of 2024, supporting operations into 2027. In terms of clinical developments, the company is expected to release further Phase II data on ACR-368 for second-line a/rEC patients and plans to announce Phase I study results for ACR-2316 in the second half of 2025. Acrivon also appointed Dr. Mansoor Raza Mirza as its new chief medical officer to lead the clinical development of its pipeline, including the ACR-368 Phase 2b trial in endometrial cancer. Analyst firm Piper Sandler set a $6 target for Acrivon stock and rated it Overweight, while H.C. Wainwright maintained a Buy rating with a $19 target, down from $22. Cantor Fitzgerald reiterated its Overweight rating, emphasizing the strong data on ACR-368 despite some efficacy dilution. These developments reflect Acrivon’s strategic focus on advancing its AP3 platform and oncology drug candidates.

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