JonesTrading analyst Soumit Roy has maintained their bullish stance on NUVB stock, giving a Buy rating on October 13.
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Soumit Roy has given his Buy rating due to a combination of factors that indicate promising future prospects for Nuvation Bio. The primary focus is on the anticipated launch of Ibtrozi for ROS1+ NSCLC in 2025, which is expected to see a gradual adoption as awareness builds and accounts are established. The initial revenue figures from Ibtrozi’s launch are promising, and there is potential for further growth, especially with the expected approval in Japan, which could significantly boost revenue.
Additionally, Nuvation’s second clinical-stage asset, safusidenib, presents a significant opportunity in the market for mutant IDH1 low-grade gliomas. With the potential market size indicated by competitors’ sales figures, the upcoming Phase 2 trial data could attract considerable investor interest and add substantial value to Nuvation Bio’s stock. These factors, combined with strategic engagements and coverage, underpin the optimistic outlook reflected in the Buy rating.
In another report released on October 13, Wedbush also maintained a Buy rating on the stock with a $6.00 price target.
NUVB’s price has also changed dramatically for the past six months – from $1.880 to $3.630, which is a 93.09% increase.