Jefferies Downgrades Arvinas Inc. (ARVN) to Hold

Jefferies analyst Akash Tewari downgraded Arvinas Inc. (NASDAQ: ARVN) from Buy to Hold with a price target of $10.00 (from $52.00).

The analyst comments "ARVN/PFE d/c vepdeg combo in 1L/2L+ after discussions w/ health authorities & data in the space suggested ER-targeted tx may be restricted to ESR1 mutants in 2L+. While Vepdeg mono could be meaningful oppt'y in 2L+ ESR1mut ER+/HER2- BC (we model PS ~$400Mn), to us, combo represented the bigger opportunity. We're downgrading to HOLD PT $52 → $10 post the update given 1) combo d/c; 2) pipeline assets are too early to assign value."

For an analyst ratings summary and ratings history on Arvinas Inc. click here. For more ratings news on Arvinas Inc. click here.

Shares of Arvinas Inc. closed at $9.62 yesterday.

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