Arvinas’ Protein Degradation Platform Shows Proof-of-Concept, Buy on Weakness for ~60% Upside

Updated: Jul 25, 2020

Summary: Arvinas (NASDAQ: ARVN) is a clinical stage biotech company developing therapies for oncology and neurology based on a novel protein degradation platform that has the potential to support an exciting new class of therapeutics. The company has two clinical stage drugs, ARV-110 and ARV-471, for prostate cancer and breast cancer. Recent Phase 1 data from ARV-110 was received negatively and drove a ~40% drop in the stock, but we believe the data actually shows proof-of-concept for Arvinas’ platform and the recent weakness in the stock presents a significant buying opportunity. Our valuation yields a per share value of $50, implying close to 60% upside from ~$30 today.

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