Analyst Charles Zhu of LifeSci Capital maintained a Buy rating on Nuvalent, boosting the price target to $120.00.
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Charles Zhu has given his Buy rating due to a combination of factors, including Nuvalent’s strong financial position and strategic progress across its development programs. The company reported a substantial cash reserve of $943.1 million as of September 30, 2025, which is expected to support its operations through 2028, providing a solid financial foundation for ongoing and future projects.
Additionally, Nuvalent’s progress in its clinical trials, such as the completion of the NDA submission for zidesamib and the ongoing enrollment in the ALKAZAR and HEROEX-1 trials, demonstrates effective execution of its strategic initiatives. The anticipated pivotal data from the ALKOVE-1 trial by the end of 2025, along with potential FDA approval and commercialization of zidesamib, further supports the positive outlook. These developments, combined with a reduced WACC assumption for zidesamib, contribute to an increased price target of $120, reinforcing the Buy recommendation.
In another report released yesterday, TD Cowen also maintained a Buy rating on the stock with a $0.00 price target.