Farzin Haque, an analyst from Jefferies, has initiated a new Buy rating on Nuvation Bio (NUVB).
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Farzin Haque has given his Buy rating due to a combination of factors including the promising potential of Nuvation Bio’s lead asset, Ibtrozi, which has received full FDA approval for ROS1+ NSCLC with a broad label. This approval allows for a multi-year treatment duration, potentially leading to significant revenue growth beyond current market expectations. The company’s strategic pricing and new NCCN treatment guidelines further enhance its commercial opportunities.
Additionally, Nuvation Bio’s pipeline presents considerable upside potential. The advancement of safusidenib into phase 3 trials for IDH1m glioma and the novel drug conjugate approach with NUV-1511 provide promising prospects for future growth. The leadership of CEO David Hung, known for his successful track record, adds confidence in the company’s ability to execute its strategic plans. The financial position, with a substantial cash runway, supports these growth initiatives, justifying the Buy rating with a price target of $10.
According to TipRanks, Haque is an analyst with an average return of -4.3% and a 33.33% success rate.
In another report released on September 19, H.C. Wainwright also reiterated a Buy rating on the stock with a $10.00 price target.