In a report released on May 10, Bradley Canino from Stifel Nicolaus maintained a Buy rating on Nuvalent (NUVL – Research Report), with a price target of $103.00. The company’s shares closed last Friday at $65.48.
Canino covers the Healthcare sector, focusing on stocks such as Summit Therapeutics, Blueprint Medicines, and Arvinas Holding Company. According to TipRanks, Canino has an average return of 5.5% and a 47.15% success rate on recommended stocks.
Currently, the analyst consensus on Nuvalent is a Strong Buy with an average price target of $101.83, implying a 55.51% upside from current levels. In a report released on May 9, BMO Capital also reiterated a Buy rating on the stock with a $102.00 price target.
The company has a one-year high of $89.39 and a one-year low of $37.95. Currently, Nuvalent has an average volume of 484.5K.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NUVL in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Nuvalent (NUVL) Company Description:
Nuvalent Inc is a biopharmaceutical company focused on creating precisely targeted therapies for patients with cancer, designed to overcome the limitations of existing therapies for clinically proven kinase targets.
Read More on NUVL:
- Nuvalent Highlights Pipeline Progress, Reiterates Key Anticipated Milestones, and Reports First Quarter 2024 Financial Results
- Nuvalent initiated with a Buy at Jefferies
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- Crocs initiated, Bill downgraded: Wall Street’s top analyst calls
- Leerink more bullish on Nuvalent, upgrades to Outperform
