Etzer Darout, an analyst from BMO Capital, maintained the Buy rating on Nuvalent (NUVL – Research Report). The associated price target is $134.00.
Etzer Darout has given his Buy rating due to a combination of factors including the promising progress of Nuvalent’s lead programs in ROS1-positive and ALK-positive non-small cell lung cancer (NSCLC). The company has shown positive clinical data from its ongoing trials, zidesamtinib (NVL-520) and neladalkib (NVL-655), which are expected to provide pivotal data in the near future. This progress is part of their OnTarget 2026 initiative, which aims to address unmet medical needs in these areas.
Additionally, the ARROS-1 trial for zidesamtinib is advancing well, with a New Drug Application (NDA) submission anticipated by mid-2025. The ALKOVE-1 trial for neladalkib is also on track, with pivotal data expected by the end of 2025. These developments, along with the initiation of the ALKAZAR Phase 3 trial, demonstrate Nuvalent’s strategic approach in advancing its tyrosine kinase inhibitor programs, which supports the Buy rating.
In another report released today, Barclays also maintained a Buy rating on the stock with a $100.00 price target.
Based on the recent corporate insider activity of 117 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NUVL in relation to earlier this year.