TD Cowen analyst Yaron Werber has maintained their bullish stance on NUVB stock, giving a Buy rating on March 3.
Yaron Werber has given his Buy rating due to a combination of factors that position Nuvation Bio for potential success. The anticipated approval of taletrectinib for ROS1+ NSCLC in June 2023 is expected to open new market opportunities, especially with the recent changes in NCCN guidelines that favor the use of TKIs over IO/chemo in first-line treatment. Additionally, the company’s strategic moves, such as hiring key leaders for their commercial organization, indicate readiness for the upcoming launch.
Furthermore, the financial outlook for Nuvation Bio has improved with the $250 million royalty financing, which alleviates previous financial concerns. The promising efficacy and safety profile of taletrectinib, along with the upcoming Phase 2 data for safusidenib in glioma, strengthen the company’s competitive positioning. These developments, coupled with the potential for licensing opportunities in Europe, make the stock an attractive investment at its current valuation.
In another report released on March 3, RBC Capital also reiterated a Buy rating on the stock with a $10.00 price target.