TD Cowen analyst Marc Frahm has maintained their bullish stance on NUVL stock, giving a Buy rating yesterday.
Marc Frahm has given his Buy rating due to a combination of factors related to Nuvalent’s promising developments in their drug pipeline. The company is on track to present pivotal datasets for its key drugs, zidesamtinib and neladalkib, by the end of 2025. These drugs target specific patient groups who have been pre-treated with TKIs, and their successful development could lead to significant advancements in treatment options for these patients.
Nuvalent’s strategic plans include filing an NDA for zidesamtinib in mid-2025, targeting TKI-pretreated patients, with potential approval expected in 2026. Additionally, the company is exploring opportunities to differentiate its offerings in the first-line setting, which could enhance its competitive edge. The ongoing enrollment and expansion of early access programs further demonstrate Nuvalent’s commitment to advancing its clinical trials and potentially achieving market success with its innovative therapies.
In another report released yesterday, LifeSci Capital also maintained a Buy rating on the stock with a $110.00 price target.
Based on the recent corporate insider activity of 117 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NUVL in relation to earlier this year.