Oppenheimer Downgrades Acrivon Therapeutics to Outperform with Lower PT of $8.

Oppenheimer Downgrades Acrivon Therapeutics to Outperform with Lower PT of $8.

Oppenheimer & Co. has downgraded Acrivon Therapeutics (ACRV) to "Outperform" with a lower price target of $8. The downgrade comes amidst the company's recent financial and clinical developments. Acrivon reported its Q2 2025 financial results, showcasing a net loss of $21.0 million, with R&D expenses of $16.2 million. Despite the loss, the company maintains a strong financial position with $147.6 million in cash and equivalents, expected to fund operations into Q2 2027 [1].

The downgrade reflects Oppenheimer's assessment of Acrivon's clinical pipeline, particularly its lead drug ACR-368, which is advancing in a registrational-intent Phase 2 study for endometrial cancer. The drug showed promising responses in patients who progressed after chemotherapy and anti-PD1 therapy. Additionally, ACR-2316 demonstrated initial clinical activity in Phase 1 trials, including a confirmed partial response in endometrial cancer [1].

Oppenheimer's downgrade also considers the recent appointment of Dr. Mansoor Raza Mirza as Chief Medical Officer, a world-renowned oncology expert specializing in gynecologic malignancies. Dr. Mirza will lead clinical development for ACR-368 and ACR-2316 [2].

The downgrade comes as Acrivon faces increased competition in the precision oncology space. However, Oppenheimer believes that Acrivon's unique AP3 proteomics platform and strong clinical pipeline justify a "Outperform" rating with a lower price target of $8.

References:
[1] https://www.stocktitan.net/news/ACRV/
[2] https://www.stocktitan.net/news/ACRV/