Jefferies analyst Farzin Haque initiated coverage of Nuvation Bio (NUVB) with a Buy rating and $10 price target The company’s lead asset Ibtrozi has full FDA approval for non-small cell lung cancer characterized by a ROS1 gene rearrangement with a “broad line-agnostic label,” the analyst tells investors in a research note. The firm believes the multi-year treatment duration could drive “significant revenue stacking” compared to Street forecasts. In addition, Nuvation’s pipeline provides upside optionality, contends Jefferies.
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