ArriVent BioPharma (NASDAQ:AVBP) Issues Quarterly Earnings Results

ArriVent BioPharma (NASDAQ:AVBP) posted its quarterly earnings results on Monday. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($1.05) by $0.24, FiscalAI reports. The business had revenue of $5.00 million during the quarter, compared to analyst estimates of $0.80 million.

ArriVent BioPharma Trading Up 3.8%

Shares of AVBP stock opened at $14.16 on Tuesday. The company has a market cap of $698.23 million, a P/E ratio of -3.91 and a beta of 1.66. The firm has a fifty day moving average price of $22.73 and a 200 day moving average price of $26.61. ArriVent BioPharma has a 12 month low of $11.36 and a 12 month high of $35.83.

Analyst Ratings Changes

AVBP has been the topic of several recent research reports. Guggenheim upped their price target on ArriVent BioPharma from $18.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, October 27th. Truist Financial set a $21.00 price target on ArriVent BioPharma in a research report on Monday, October 26th. Citigroup decreased their price objective on ArriVent BioPharma from $40.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, October 7th. HC Wainwright lowered their price objective on ArriVent BioPharma from $47.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, October 8th. Finally, Oppenheimer reissued an “outperform” rating and set a $25.00 price objective on shares of ArriVent BioPharma in a research report on Monday, October 26th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ArriVent BioPharma has a consensus rating of “Moderate Buy” and an average target price of $24.56.

ArriVent BioPharma Company Profile

ArriVent BioPharma is a clinical-stage biopharmaceutical company focused on developing medicines for people with cancer. The company advances therapies intended to address significant unmet medical needs, with an emphasis on treatments that may offer new options for patients with difficult-to-treat tumors.

Its lead clinical program is furmonertinib, an oral targeted therapy being studied for non-small cell lung cancer with certain epidermal growth factor receptor (EGFR) mutations, including exon 20 insertion mutations.