JPMorgan Starts Nuvation Bio at Overweight With $13 Target as 101% Upside Beckons
Updated
Updated · CNBC · Aug 18
JPMorgan Starts Nuvation Bio at Overweight With $13 Target as 101% Upside Beckons
2 articles · Updated · CNBC · Aug 18
Summary
$13 is JPMorgan's new price target for Nuvation Bio, after it initiated coverage with an overweight rating and said the stock could more than double from Monday's close.
IBTROZI's early launch in advanced ROS1-positive non-small cell lung cancer underpins the call, with JPMorgan citing durable, growing first-line adoption and scope to accelerate revenue through Nuvation's existing customer base.
2029 is the expected timing for China Phase 3 data comparing taletrectinib with crizotinib, a readout JPMorgan sees as important if the drug proves effective for longer first-line use.
10 of 10 analysts tracked by LSEG already rate the stock buy or strong buy, and shares have climbed 56% over three months, adding another 1% Tuesday after the note.