Nuvalent price target raised to $73 from $52 at BMO Capital

BMO Capital raised the firm’s price target on Nuvalent to $73 from $52 and keeps an Outperform rating on the shares. The company’s initial dose escalation data for NVL-655 demonstrates the drug’s best-in-class potential in ALK+ NSCLC, and after speaking with management post abstract release, the firm sees more mature data presented on October 13th to continuously demonstrate NVL-655’s value proposition, the analyst tells investors in a research note.