JonesTrading analyst Soumit Roy has maintained their bullish stance on NUVB stock, giving a Buy rating on July 30.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Soumit Roy has given his Buy rating due to a combination of factors that highlight the promising outlook for Nuvation Bio. The recent launch of Ibtrozi has shown significant promise, with a substantial number of ROS1+ NSCLC patients beginning treatment shortly after its approval. The engagement of over 50 unique prescribers and the rapid uptake of new patients underscore the drug’s potential in the market.
Additionally, the anticipated approval of Ibtrozi in Japan, which could result in a significant milestone payment, further strengthens the company’s financial prospects. The broad adoption of Ibtrozi, including its inclusion in the NCCN guidelines as a preferred agent, and the confirmed payer coverage for a majority of patients, indicate a strong market presence. These developments, along with the potential upside from Nuvation’s IDH1 inhibitor, safusidenib, suggest a favorable valuation trajectory for Nuvation Bio.
In another report released on July 30, Wedbush also maintained a Buy rating on the stock with a $5.00 price target.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NUVB in relation to earlier this year.