Nuvalent, the Healthcare sector company, was revisited by a Wall Street analyst on February 26. Analyst David Nierengarten from Wedbush reiterated a Buy rating on the stock and has a $125.00 price target.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
David Nierengarten has given his Buy rating due to a combination of factors, chiefly the advanced and de-risked pipeline anchored by zidesamtinib and neladalkib. He anticipates U.S. approval of zidesamtinib for pre-treated ROS1-positive lung cancer by its September PDUFA date, supported by strong, durable responses in heavily pre-treated and CNS-involved patients, with additional upside from a planned first-line label expansion.
He also highlights neladalkib’s compelling pivotal data in ALK-positive NSCLC, which support an NDA in pre-treated patients and reduce risk for the ongoing first-line Phase 3 trial, underpinning substantial revenue growth from 2027 onward. Combined with a sizable ~$1.4B cash position that can fund operations into 2029 and support commercialization of multiple differentiated therapies, his valuation—based on risk-adjusted, multi-year sales multiples—justifies the Outperform rating and $125 price target.
In another report released today, UBS also maintained a Buy rating on the stock with a $138.00 price target.