Intel stock spikes after report of possible US government stake
Investing.com - H.C. Wainwright raised its price target on ArriVent BioPharma (NASDAQ:AVBP) to $42.00 from $40.00 on Tuesday, while maintaining a Buy rating on the stock. Currently trading at $17.39, the stock sits well below analysts’ target range of $33-$45, despite strong cash reserves exceeding debt obligations. According to InvestingPro, the company’s shares have declined over 10% in the past week.
The firm cited the upcoming Phase 3 FURVENT trial results for firmonertinib versus platinum-based chemotherapy in first-line EGFR Exon20 insertion-positive non-small cell lung cancer (NSCLC) patients as the next major catalyst for the company, expected in early 2026. With a market capitalization of $635 million and a Fair overall financial health score according to InvestingPro, investors can access 8 additional key insights about AVBP through the platform.
H.C. Wainwright highlighted data from the Phase 1b FAVOUR trial, which showed firmonertinib achieved a 78.6% objective response rate in treatment-naïve patients and 46.2% in pretreated patients with EGFR exon 20 insertion mutation-positive NSCLC.
The firm noted these efficacy results compare favorably to competitor agents, with the additional benefit of zero Grade 3 or higher diarrhea and rash side effects, which are typically associated with targeting wild-type EGFR.
The price target increase resulted from the firm pulling forward its discounted cash flow-based valuation model while maintaining its positive outlook on ArriVent’s clinical pipeline.
In other recent news, ArriVent BioPharma announced that top-line results from its Phase 3 FURVENT trial are now expected in early 2026. This trial is evaluating firmonertinib against platinum-based chemotherapy for patients with first-line EGFR Exon20 insertion-positive non-small cell lung cancer (NSCLC). The company successfully completed enrollment for the trial in the first quarter of 2025, recruiting 398 patients across the United States, Europe, and parts of Asia. Meanwhile, H.C. Wainwright reiterated its Buy rating with a $40.00 price target for ArriVent BioPharma, underscoring confidence in the company’s ongoing research. Similarly, Oppenheimer maintained its Outperform rating, setting a $44.00 price target. Goldman Sachs resumed coverage of the company with a Buy rating and a $33.00 price target, citing a high probability of competitive clinical efficacy in the FURVENT trial. Clear Street also reiterated its Buy rating and a $32.00 price target, noting that despite the approval of a competitor drug, ArriVent’s firmonertinib demonstrated a slightly longer median progression-free survival. These developments reflect a continued positive outlook from multiple analyst firms on ArriVent BioPharma’s future prospects.
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