Nuvalent’s Strategic Expansion and Clinical Progress Drive Buy Rating

H.C. Wainwright analyst Swayampakula Ramakanth has maintained their bullish stance on NUVL stock, giving a Buy rating on February 28.

Swayampakula Ramakanth has given his Buy rating due to a combination of factors including Nuvalent’s strategic implementation of Expanded Access Programs (EAPs) for their investigational drugs, zidesamtinib and neladalkib. These programs are designed to address unmet needs in non-small cell lung cancer (NSCLC) by providing access to patients who have already undergone prior therapy. The high demand for these programs indicates a strong interest from both physicians and patients in adopting new treatment options, even at an early stage of clinical development. Furthermore, the EAPs offer a cost-effective method for Nuvalent to increase patient exposure to their treatments and build a broader prescriber base, which could facilitate a rapid market uptake upon regulatory approval.
Nuvalent’s progress in clinical trials also supports the Buy rating. The company is on track to present pivotal data for zidesamtinib in the first half of 2025, with a potential FDA approval anticipated in 2026. Additionally, the ongoing studies for neladalkib and NVL-330 in various NSCLC indications demonstrate the company’s commitment to expanding their treatment portfolio. The expectation of pivotal data from the ALKOVE-1 study by the end of 2025 and the initiation of the ALKAZAR study in the first half of 2025 further reinforce the potential for Nuvalent’s therapies to make a significant impact in the oncology field.

In another report released on February 28, J.P. Morgan also maintained a Buy rating on the stock with a $110.00 price target.