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Biotech company Arvinas could see its shares rally from a potential medium- to long-term commercial opportunity, according to Goldman Sachs. The firm initiated coverage on Arvinas with a buy rating and price target of $70. That suggests 68.7% upside potential from where shares closed Wednesday. According to analyst Paul Choi, breast cancer drug vepdegestrant (ARV-471), which is being co-developed by Arvinas and Pfizer , presents an "underappreciated" commercial opportunity. Arvinas has a "differentiated protein degrader platform that could expand several major markets," Choi wrote in a Thursday note.
Persons: Goldman Sachs, Paul Choi, Arvinas, Choi, — CNBC's Michael Bloom Organizations: Biotech, Arvinas, Pfizer
Vir Biotechnology shares can more than double going forward, according to Goldman Sachs. Called VIR-2482, the antibody treatment offers users broad protection against flu strains that could last the entirety of a flu season, according to Vir. Still, the analyst expects that shares can surge this year on a post-Covid story, rising more than 105% to the analyst's 12-month price target of $53. The price target was raised from $41. Vir shares are about 5% higher during Tuesday premarket trading.
Investors should consider putting money in Xenon Pharmaceuticals , a biopharma stock poised to rally as Wall Street gains more clarity on its drug to treat epilepsy, Goldman Sachs says. The stock, he said, could jump 58% from Tuesday's close, given the bank's price target, and offers investors "innovation and blockbuster potential in an overlooked neuro category." Those gains would come even after a solid 24% gain this year and near 8% gain this month." And Xenon has solid balance sheet, Choi said. "Although pricing power will likely be limited, we think [the drug's] differentiated profile ... combined with good launch execution portends blockbuster FOS sales in the mostly generic epilepsy category," Choi wrote.
This little-known California-based biopharmaceutical stock can see its shares rally nearly 80% in the near term, according to Goldman Sachs. Shares of the company's stock were up more than 5% in trading Thursday on the back of Choi's call. The analyst also sees promise in the company's pipeline of Bruton's tyrosine kinase inhibitor drugs, currently in the works to treat a slew of conditions including some forms of lymphoma and potentially multiple sclerosis. The bank's price target suggests shares can soar another 78% from Wednesday's close. "We are broadly bullish on GOSS's pipeline and view the risk/reward profile at current levels as favorable," he said.
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