Canaccord starts ‘best-in-class’ Nuvalent with Buy rating

Canaccord initiated coverage of Nuvalent (NUVL) with a Buy rating and $126 price target The firm views Nuvalent as a “best-in-class” precision oncology company that can overcome safety and efficacy limitations for current tyrosine kinase inhibitors. The analyst expects FDA approval for Nuvalent’s zidesamtinib in TKI-experienced ROS1+ non-small cell lung cancer patients in 2026. Canaccord estimates $795M in U.S. peak sales by 2037.