Soumit Roy, an analyst from JonesTrading, has initiated a new Buy rating on Nuvation Bio (NUVB).
Soumit Roy has given his Buy rating due to a combination of factors that highlight Nuvation Bio’s potential for significant growth. The company is on the verge of becoming a commercial stage entity by mid-2025, with a focus on developing targeted therapeutics that show promise in lung cancer and glioma. The experienced management team, led by Dr. David Hung, adds credibility to the company’s strategic direction, especially given his past success with Medivation.
Key assets acquired from AnHeart Therapeutics, namely the ROS1 inhibitor taletrectinib and the IDH1 inhibitor safusidenib, are pivotal to Nuvation’s future. The potential FDA approval for taletrectinib and promising Phase 2 data for safusidenib in 2025 are critical milestones. Despite the current conservative market valuation, these assets could drive substantial value, supported by the company’s strong cash position and the anticipated market opportunities. These elements collectively underpin the Buy rating and the $10 price target.
Roy covers the Healthcare sector, focusing on stocks such as Chimerix, Day One Biopharmaceuticals, and Oric Pharmaceuticals. According to TipRanks, Roy has an average return of -23.4% and a 16.73% success rate on recommended stocks.
In another report released on March 10, H.C. Wainwright also maintained a Buy rating on the stock with a $10.00 price target.
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