ArriVent BioPharma (NASDAQ:AVBP – Get Free Report)‘s stock had its “buy” rating reissued by equities research analysts at BTIG Research in a research note issued on Thursday,Benzinga reports. They currently have a $42.00 price target on the stock. BTIG Research’s price target indicates a potential upside of 33.50% from the company’s previous close.
Other analysts have also recently issued reports about the stock. Truist Financial upped their price target on shares of ArriVent BioPharma from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Citigroup reissued a “buy” rating on shares of ArriVent BioPharma in a research report on Thursday. Weiss Ratings reissued a “sell (d-)” rating on shares of ArriVent BioPharma in a research report on Friday, July 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of ArriVent BioPharma in a research note on Friday, May 22nd. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.83.
Read Our Latest Report on AVBP
ArriVent BioPharma Stock Performance
ArriVent BioPharma (NASDAQ:AVBP – Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.06). As a group, equities research analysts predict that ArriVent BioPharma will post -3.9 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ArriVent BioPharma
A number of institutional investors have recently modified their holdings of AVBP. Quantbot Technologies LP bought a new position in ArriVent BioPharma in the second quarter worth about $59,000. E Fund Management Co. Ltd. bought a new position in shares of ArriVent BioPharma during the second quarter valued at approximately $3,798,000. BlackRock Inc. acquired a new stake in shares of ArriVent BioPharma during the 2nd quarter worth approximately $112,919,000. Deutsche Bank AG bought a new stake in shares of ArriVent BioPharma in the 2nd quarter worth approximately $1,361,000. Finally, Persistent Asset Partners Ltd acquired a new position in ArriVent BioPharma during the 2nd quarter valued at approximately $547,000. Institutional investors own 9.48% of the company’s stock.
ArriVent BioPharma Company Profile
ArriVent BioPharma, Inc operates as a clinical-stage biopharmaceutical company that engages in the identification, development, and commercialization of medicines for the unmet medical needs of patients with cancers in the United States. It also engages in the development and commercialization of targeted cancer therapies for non-small cell lung cancer (NSCLC) and other solid tumors. In addition, the company develops Furmonertinib, a third-generation tyrosine kinase inhibitor that is in multiple clinical trials across a range of epidermal growth factor receptor mutations (EFGRm) in non-small cell lung cancer (NSCLC), including a phase 3 clinical trial for treatment of patients with metastatic EFGRm NSCLC; phase 1b clinical trial for treatment of patients with NSCLC with other EGFR mutations and NSCLC with HER2 Exon 20 insertion mutations; and ARR-002.
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