Analyst Swayampakula Ramakanth from H.C. Wainwright maintained a Buy rating on Nuvalent (NUVL – Research Report) and keeping the price target at $110.00.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors including Nuvalent’s promising clinical developments and strategic plans. The company is on track to present pivotal data from its ARROS-1 study, which evaluates zidesamtinib for treating ROS1 positive NSCLC patients, with a potential New Drug Application submission in mid-2025. If successful, this could lead to FDA approval in 2026, marking a significant milestone for the company.
Furthermore, preclinical data has shown that zidesamtinib has a favorable binding profile and high biochemical potency against resistant mutations compared to existing therapies. Additionally, the company’s ongoing studies, such as the ALKOVE-1 and HEROEX-1, are expected to provide further insights into the efficacy of their drug candidates. Collectively, these developments highlight Nuvalent’s potential to make significant advancements in the treatment of NSCLC, supporting the Buy rating.
According to TipRanks, Ramakanth is a 2-star analyst with an average return of -0.1% and a 34.93% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics, ImmunoPrecise Antibodies, and IN8bio.
In another report released today, Barclays also maintained a Buy rating on the stock with a $100.00 price target.
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