Challenging Road Ahead for Cancer Drugs, Nuvalent Seeks to Break the Mold
Portfolio Pulse from Vandana Singh
Stifel initiated coverage on Nuvalent Inc (NUVL) with a Buy rating and a price target of $65, anticipating Phase 1 cancer drug data. The analysts expect a low Objective Response Rate (ORR) for NVL-655, but see potential for significant responses in patients who have previously undergone lorlatinib treatment. A potential victory against Genetech's Alecensa could translate into annual revenues in the $2-3 billion range for Nuvalent. NUVL shares are up 7.18% at $45.10.
September 27, 2023 | 6:44 pm
News sentiment analysis
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NEGATIVE IMPACT
Pfizer's Lorbrena is mentioned as being less preferred than Genetech's Alecensa in the treatment of ALK+ Non-Small Cell Lung Cancer, despite being more potent.
The preference for Alecensa over Pfizer's more potent Lorbrena could potentially have a negative short-term impact on Pfizer's stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Stifel initiated coverage on Nuvalent with a Buy rating and a price target of $65. A potential victory against Genetech's Alecensa could translate into annual revenues in the $2-3 billion range for Nuvalent.
The positive coverage from Stifel and the potential for significant revenues from a victory against Alecensa could lead to a positive short-term impact on Nuvalent's stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100