Investors should look at NuCana into fall data, says Oppenheimer

Oppenheimer analyst Leland Gershell keeps an Outperform rating on NuCana with a $150 price target following the Q2 report. The firm sees the first look from the randomized Phase 2 trial in metastatic colorectal cancer as a key catalyst. The data could show meaningful clinical differentiation for NUC-3373 versus 5-fluorouracil as part of the standard-of-care regimen for second-line disease, the analyst tells investors in a research note. Opco believes the stage is set for ‘3373 to at least show better safety and tolerability. An efficacy advantage on progression-free survival “would be a home run,” it contends. With the shares seeming to reflect little credit for any future success potential, investors should “take a close look heading into this fall ’24 readout, which we believe could ignite investor interest in NCNA,” the firm adds.