Charles Zhu, an analyst from LifeSci Capital, maintained the Buy rating on Nuvalent (NUVL – Research Report). The associated price target remains the same with $110.00.
Charles Zhu has given his Buy rating due to a combination of factors that highlight Nuvalent’s promising position in the oncology market. The company’s management has provided insights into the upcoming ARROS-1 pivotal Phase 2 data for TKI pre-treated ROS1+ NSCLC, which is expected to be released in the first half of 2025. This data is anticipated to showcase zidesamitinib’s effectiveness across various key variables, including its activity after other therapies, resistance mutations, CNS involvement, and safety profile.
Additionally, Nuvalent’s strategic approach to trial enrollment and the introduction of an Expanded Access Program (EAP) demonstrate their commitment to addressing patient needs and maintaining drug accessibility. The company’s management has also emphasized the unique design of zidesamitinib specifically for ROS1, distinguishing it from other repurposed drugs with safety concerns. This differentiation, along with the potential for more durable responses in TKI-naive settings, positions Nuvalent favorably against competitors, further justifying the Buy rating.
Zhu covers the Healthcare sector, focusing on stocks such as Merus, IDEAYA Biosciences, and Repare Therapeutics. According to TipRanks, Zhu has an average return of -12.2% and a 28.92% success rate on recommended stocks.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $110.00 price target.