In a report released today, Robert Burns from H.C. Wainwright reiterated a Buy rating on Nuvation Bio, with a price target of $18.00.
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Robert Burns has given his Buy rating due to a combination of factors related to Nuvation Bio’s promising outlook for its drug, IBTROZI (taletrectinib). The analyst has increased the projected peak market penetration for IBTROZI in the first-line treatment of ROS1+ NSCLC from 35% to 45%, citing its clinical efficacy and safety profile as superior to existing FDA-approved treatments and competitors in development. Furthermore, the duration of first-line therapy has been extended to 40 months, reflecting the median duration of response and progression-free survival data from recent trials.
Additionally, the discount rate applied in the valuation model has been lowered to 11% due to the established nature of the target market and the approval status of IBTROZI. These adjustments have led to a revised price target of $18 per share, up from the previous $10. While risks such as potential negative clinical data and market competition exist, the current valuation and potential future revenue streams from additional indications support the Buy rating.
In another report released on November 26, Clear Street also maintained a Buy rating on the stock with a $12.00 price target.