- According to Oppenheimer analyst, the fallout of Sanofi SA's SNY amcenestrant creates a buying opportunity for Arvinas Inc ARVN
- The analyst notes that Arvinas shares were pressured after Sanofi decided to discontinue the development of amcenestrant.
- Related: Sanofi Earns Price Target Cut After Stopping Breast Cancer Drug Trial.
- The analyst reiterated an Outperform rating and $102 price target on Arvinas shares, notes that Arvinas ARV-471 is clinically and mechanistically differentiated from competitors in the oral SERD landscape and that it has shown promising single-agent activity in a challenging Phase 1 study population.
- The analyst writes, "upcoming VERITAC data focusing on 200 and 500 mg doses, likely to be presented in December, could position '471 as a viable orally-available alternative to fulvestrant."
- ARV-471 is an investigational orally bioavailable PROTAC protein degrader designed to target and degrade the estrogen receptor for locally advanced or metastatic ER+/HER2- breast cancer.
- Price Action: ARVN shares closed 11% lower at $46.70 on Wednesday.
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