Goldman Sachs analyst Richard Law CFA has maintained their bullish stance on NUVL stock, giving a Buy rating on June 25.
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Richard Law CFA has given his Buy rating due to a combination of factors that highlight Nuvalent’s promising position in the biotech sector. The pivotal Phase 2 results for zidesamtinib (NVL-520) in ROS1+ NSCLC patients, particularly those pre-treated with TKIs, demonstrate a best-in-class efficacy and safety profile. This positions the drug for potential expedited approval and inclusion in treatment guidelines, which could significantly enhance its commercial prospects.
Additionally, the successful Phase 1 results for neladalkib (NVL-655) in ALK+ NSCLC further bolster the company’s pipeline. While the path to first-line ALK approval may be lengthy, the near-term potential of NVL-330 in HER2-altered NSCLC offers a promising growth avenue. These factors, combined with increased peak sales estimates, support the optimistic outlook for Nuvalent’s stock.
According to TipRanks, Law CFA is a 2-star analyst with an average return of 0.0% and a 37.84% success rate. Law CFA covers the Healthcare sector, focusing on stocks such as Viking Therapeutics, Rocket Pharmaceuticals, and Nuvalent.
In another report released on June 25, Leerink Partners also maintained a Buy rating on the stock with a $140.00 price target.