In a report released yesterday, Naz Rahman from Maxim Group maintained a Buy rating on Nuvectis Pharma, with a price target of $17.00.
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Naz Rahman has given his Buy rating due to a combination of factors related to Nuvectis Pharma’s strategic focus and promising potential of their lead asset, NXP900. With the completion of the NXP800 trials, which had less than favorable results, the company can now concentrate its resources and efforts on NXP900. This asset is being developed to treat patients who have developed resistance to EGFR and ALK inhibitors, a significant unmet need in the lung cancer market.
NXP900’s upcoming Phase 1b study is set to enroll different cohorts, including a monotherapy group and combination groups, which could provide valuable data in the near future. The potential of NXP900 to resensitize cancer cells to antitumor therapy has been promising, indicating a favorable risk-benefit profile. This strategic pivot towards NXP900, combined with the removal of overhangs related to NXP800, supports Rahman’s positive outlook and Buy rating for Nuvectis Pharma’s stock.
NVCT’s price has also changed slightly for the past six months – from $6.760 to $6.960, which is a 2.96% increase.