In a report released yesterday, Naz Rahman from Maxim Group maintained a Buy rating on Nuvectis Pharma, with a price target of $17.00.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Naz Rahman has given his Buy rating due to a combination of factors that highlight the potential of Nuvectis Pharma’s lead asset, NXP900. This drug is a Src family kinase (SFK) inhibitor, which is being developed to treat patients resistant to EGFR and ALK inhibitors. The recent positive data from Nuvalent’s neladalkib, a similar next-generation ALK inhibitor, supports the potential efficacy of NXP900 in overcoming treatment resistance.
NXP900 is currently in a Phase 1b study, enrolling patients with various cancer mutations, and plans to initiate combination therapy cohorts by the end of 2025. The open-label nature of the trial suggests that preliminary data could be available by the first quarter of 2026. These developments, combined with the encouraging results from Nuvalent’s study, reinforce the belief that NXP900 could offer significant therapeutic benefits, justifying the Buy rating.
In another report released on November 4, H.C. Wainwright also reiterated a Buy rating on the stock with a $10.00 price target.