Acrivon Therapeutics (ACRV, Financial) has garnered attention from Piper Sandler, which has initiated coverage on the company with an Overweight rating and set a price target at $6, a decrease from the previous target of $30. Acrivon's innovative AP3 platform employs artificial intelligence and machine learning in phosphoproteomics to develop precision treatments aimed at modifying protein signaling.
In the near future, Acrivon plans to release additional Phase II data regarding its ACR-368 treatment for second-line a/rEC patients, alongside detailing registration strategies for OncoSignature+ patients. The company anticipates a potential new drug application by 2026. Although Acrivon's primary focus is currently cancer, the company is exploring opportunities for applying its AP3 platform to other diseases, which could lead to potential partnerships down the line.
Financially, Acrivon concluded 2024 with $184.6 million in cash reserves, expected to sustain its operations until 2027.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 7 analysts, the average target price for Acrivon Therapeutics Inc (ACRV, Financial) is $12.29 with a high estimate of $19.00 and a low estimate of $7.00. The average target implies an upside of 771.33% from the current price of $1.41. More detailed estimate data can be found on the Acrivon Therapeutics Inc (ACRV) Forecast page.
Based on the consensus recommendation from 10 brokerage firms, Acrivon Therapeutics Inc's (ACRV, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
