In a report released yesterday, Soumit Roy from JonesTrading maintained a Buy rating on Nuvation Bio (NUVB – Research Report), with a price target of $10.00.
Soumit Roy has given his Buy rating due to a combination of factors that highlight Nuvation Bio’s strategic positioning and potential market impact. The company is well-prepared for the commercialization of taletrectinib, a promising drug expected to receive FDA approval by June 2025. The management team, which includes experienced members from successful ventures like Medivation, has developed a robust commercialization strategy.
Additionally, market research indicates that taletrectinib’s superior median progression-free survival (mPFS) of approximately 45.6 months positions it favorably against competitors. This advantage is likely to drive strong market uptake upon approval. Furthermore, the company’s focus on U.S. commercialization and ongoing discussions with potential partners underscore its commitment to maximizing taletrectinib’s market potential. These strategic efforts and positive interactions with the FDA contribute to the optimistic outlook for Nuvation Bio’s stock.
NUVB’s price has also changed moderately for the past six months – from $2.300 to $2.020, which is a -12.17% drop .