Leerink raised the firm’s price target on Nuvalent to $69 from $42 and keeps a Market Perform rating on the shares. The firm notes Nuvalent presented NVL-655 data in ALK+ non-small cell lung cancer patients at the 2023 Triple Meeting. After these initial data, Leerink is more convinced that NVL-655 is an active agent, with the potential to move into the key 1L setting.
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