ARVN - 'Data-rich 2H21' could send Arvinas shares 140% higher Cantor says

Arvinas (ARVN) shares are poised to rise significantly thanks to a "data-rich" second half of the year, according to Cantor analyst Alethia Young.She is reiterating her overweight rating and is raising her price target to $140 from $121.Based on yesterday's closing price of $58.19, that represents upside of ~140%.In particular, she is looking forward to phase 1 dose escalation data on protein degrader ARV-471 for breast cancer as well as data from a phase 1b trial of the drug in combination with Ibrance (palbociclib), both in in 2H 21."We think that if both show interesting results, the stock could trade up meaningfully as ARV-471will be positioned as best-in-class," Young writes.She also notes that the company is expected to provide phase 2 interim data for ARV-110 in metastatic prostate cancer in the second half of the year as well.Arvinas shares are up 3% to $59.95 in morning trading.

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'Data-rich 2H21' could send Arvinas shares 140% higher, Cantor says