As previously reported, Jefferies upgraded Nuvation Bio (NUVB) to Buy from Hold with a price target of $10, up from $1.40, following the acquisition of AnHeart Therapeutics for about $300M in stock. A $3B valuation, or about 300% upside from here, is “not a stretch” if the pivotal Phase IIB ROS1 lung cancer data is confirmed this year and early data looks as good as Nuvalent (NUVL) and Turning Point Therapeutics (TPTX), which have valuations in a range of $4B-$5B, the analyst tells investors.
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Read More on NUVB:
- Nuvation Bio upgraded to Buy from Neutral at BTIG
- Nuvation Bio Enhances Capabilities with AnHeart Merger Deal
- Nuvation Bio to acquire AnHeart Therapeutics in all-stock transaction
- Nuvation Bio doses first patient in Phase 1/2 study of NUV-1511
- Nuvation Bio price target raised to $5 from $4.50 at H.C. Wainwright