Nuvalent price target raised to $134 from $132 at BMO Capital

BMO Capital analyst Etzer Darout raised the firm’s price target on Nuvalent (NUVL) to $134 from $132 and keeps an Outperform rating on the shares. The company’s Q3 update highlighted its achievement of all anticipated 2024 milestones and accelerated development timeline, the analyst tells investors in a research note. The firm adds that it continues to be positive on Nuvalent’s clinical programs given the data seen to date as it progresses through execution of its OnTarget 2026 initiative.