Nuvation Bio price target raised to $5 from $4 at RBC Capital

RBC Capital raised the firm’s price target on Nuvation Bio to $5 from $4 and keeps an Outperform rating on the shares. The firm is adjusting its estimates after the company completed the all-stock acquisition of AnHeart and netted two late-stage assets, taletrectinib and safusidenib, which “could transform” Nuvation Bio into a commercial organization the end of 2025, the analyst tells investors in a research note. RBC is incorporating both assets, which hold the combined estimated peak sales potential of $640M in ROS1+ NSCLC and grades 2/3 IDH1-mutant glioma, into its model.