Analyst Joseph Pantginis of H.C. Wainwright reiterated a Buy rating on Nuvectis Pharma, reducing the price target to $10.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors surrounding Nuvectis Pharma’s strategic decisions and clinical progress. The company has reprioritized its pipeline, placing a stronger focus on NXP900, which is set to begin a Phase 1b trial in patients with solid tumors. This decision follows a successful Phase 1a trial where NXP900 demonstrated a wide therapeutic window and robust pharmacodynamic response, indicating its potential effectiveness and safety.
Additionally, Nuvectis’s recent Drug-Drug Interaction study revealed that NXP900 is a weak inhibitor of CYP3A, suggesting it can be safely combined with existing therapies like EGFR and ALK inhibitors for non-small cell lung cancer. This opens up promising combination therapy opportunities without significant adverse effects. By reallocating resources from NXP800, which showed limited efficacy in ovarian cancer, to NXP900, Nuvectis is strategically positioning itself for greater clinical success and long-term therapeutic potential.
According to TipRanks, Pantginis is an analyst with an average return of -17.7% and a 32.06% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Krystal Biotech, Capricor Therapeutics, and Cytokinetics.
In another report released on July 31, Maxim Group also reiterated a Buy rating on the stock with a $17.00 price target.