Nuvation Bio price target raised to $13 from $12 at RBC Capital

RBC Capital raised the firm’s price target on Nuvation Bio (NUVB) to $13 from $12 and keeps an Outperform rating on the shares after its Q4 results. The company’s launch of Ibtrozi continues to show promise – with physicians using increasing amounts of the drug in their ROS1 patients driven by good tolerability and high efficacy, the analyst tells investors in a research note. With an over $650M Ibtrozi opportunity, and even greater long-term upside potential on safu, shares are undervaluing the two pillars of the company, the firm added.