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Investing.com - Citizens JMP analyst reiterated a Market Outperform rating and $13.00 price target on Acrivon Therapeutics Inc (NASDAQ:ACRV), which currently trades at $1.55. According to InvestingPro data, analyst targets range from $6 to $19, with the stock showing strong momentum in recent months despite its volatile nature.
The rating maintains the firm’s positive outlook on the clinical-stage biopharmaceutical company, which is developing precision oncology medicines. With a market capitalization of $48.8 million, InvestingPro analysis shows the company maintains a healthy balance sheet with more cash than debt and a strong current ratio of 10.3x.
The analyst cited upcoming Phase 1 dose-escalation data for ACR-2316 in advanced solid tumors, expected in the fourth quarter of 2025, as a potential catalyst for the stock.
This first-in-human study update is anticipated to include safety data from the dose escalation phase, along with details on the intermittent dosing schedule and recommended Phase 2 dose based on initial clinical activity.
The $13.00 price target, derived from discounted cash flow analysis, remains unchanged as the firm awaits "important updates in the coming months."
In other recent news, JMP Securities has reiterated its Market Outperform rating on Acrivon Therapeutics , maintaining a price target of $13.00. This decision follows Acrivon’s second-quarter update, where the company outlined plans to release initial clinical data from its first-in-human Phase 1 study of ACR-2316 in solid tumors. The update reflects continued progress in their clinical trials, which is crucial information for investors tracking the company’s development. JMP Securities’ reaffirmation of the Market Outperform rating suggests confidence in Acrivon’s potential growth and performance in the biopharmaceutical sector. The firm’s positive outlook is based on the anticipated results from the ongoing study, which investors may find promising. These developments are part of Acrivon’s ongoing efforts to advance its clinical programs and meet key milestones.
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