ArriVent BioPharma (NASDAQ:AVBP) Upgraded at Truist Financial

Key Points

• Truist Financial upgraded ArriVent BioPharma (AVBP) to a "strong‑buy" and multiple brokers have raised price targets; consensus from analysts is a "Moderate Buy" with a $43 average target (2 Strong Buy, 8 Buy, 1 Hold, 1 Sell).
• The stock opened at $30.38 (52‑week range $16.10–$32.14) with a $1.41B market cap; ArriVent reported Q1 EPS of ($0.78) beating estimates and analysts forecast about −3.6 EPS for the year.
• ArriVent is a clinical‑stage biopharma developing Furmonertinib, a third‑generation EGFR tyrosine kinase inhibitor in multiple trials including a phase‑3 for metastatic EGFR‑mutant NSCLC.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) was upgraded by equities research analysts at Truist Financial to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages also recently issued reports on AVBP. Oppenheimer reiterated an "outperform" rating and issued a $50.00 price target (up from $44.00) on shares of ArriVent BioPharma in a report on Friday, March 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of ArriVent BioPharma in a report on Monday, April 20th. B. Riley Financial lifted their price target on ArriVent BioPharma from $37.00 to $45.00 and gave the company a "buy" rating in a report on Monday, March 23rd. HC Wainwright lifted their price target on ArriVent BioPharma from $42.00 to $44.00 and gave the company a "buy" rating in a report on Friday, March 6th. Finally, Citigroup lifted their price target on ArriVent BioPharma from $33.00 to $45.00 and gave the company a "buy" rating in a report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, ArriVent BioPharma has an average rating of "Moderate Buy" and a consensus target price of $43.00.

ArriVent BioPharma Stock Up 1.3%

AVBP opened at $30.38 on Monday. The stock's fifty day moving average is $25.52 and its two-hundred day moving average is $22.81. The company has a market capitalization of $1.41 billion, a P/E ratio of -6.89 and a beta of 1.51. ArriVent BioPharma has a 52 week low of $16.10 and a 52 week high of $32.14.

ArriVent BioPharma (NASDAQ:AVBP - Get Free Report) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.78) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.87) by $0.09. Equities analysts anticipate that ArriVent BioPharma will post -3.6 earnings per share for the current year.

Hedge Funds Weigh In On ArriVent BioPharma

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. acquired a new stake in ArriVent BioPharma during the 3rd quarter worth about $26,000. Russell Investments Group Ltd. lifted its position in ArriVent BioPharma by 9,747.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,068 shares of the company's stock worth $38,000 after acquiring an additional 2,047 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in ArriVent BioPharma by 27.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,006 shares of the company's stock worth $40,000 after acquiring an additional 438 shares during the period. BNP Paribas Financial Markets lifted its position in ArriVent BioPharma by 31.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,571 shares of the company's stock worth $56,000 after acquiring an additional 609 shares during the period. Finally, Group One Trading LLC acquired a new stake in ArriVent BioPharma during the 4th quarter worth about $57,000. 9.48% of the stock is owned by hedge funds and other institutional investors.

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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