H.C. Wainwright analyst Robert Burns has reiterated their bullish stance on NUVB stock, giving a Buy rating yesterday.
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Robert Burns has given his Buy rating due to a combination of factors, primarily focusing on the promising clinical trial results of Nuvation Bio’s investigational drug, taletrectinib. The drug has shown significant efficacy in treating advanced ROS1+ NSCLC, with impressive response rates and duration of response in both TKI-naive and TKI-pretreated patients. The robust intracranial response rates further strengthen its potential as a leading treatment option.
Additionally, Nuvation Bio’s financial position appears strong, with a substantial cash reserve that is expected to support the company through key milestones and potential pipeline expansion. Despite some missed PDUFA dates due to FDA delays, the overall safety profile and efficacy data of taletrectinib suggest a favorable approval outlook, underpinning the Buy recommendation.
In another report released yesterday, Wedbush also maintained a Buy rating on the stock with a $5.00 price target.