Nuvalent initiated with a Buy at H.C. Wainwright

H.C. Wainwright initiated coverage of Nuvalent (NUVL) with a Buy rating and $110 price target Nuvalent is a clinical stage biotechnology company focused on developing brain-penetrant tyrosine kinase inhibitors with high target specificity for the treatment of non-small cell lung cancer, the analyst tells investors in a research note. The firm believes Nuvalent has the potential to reshape the treatment landscape for ROS1-postive, ALK-positive and HER2-positive lung cancer due to the high specificity of its clinical candidates. Upon launching all three drugs the company could generate revenues of $205M in 2026, growing to $4.5B in 2032, contends H.C. Wainwright.