Nuvalent (NASDAQ:NUVL) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Nuvalent (NASDAQ:NUVLFree Report) had its target price upped by BMO Capital Markets from $132.00 to $134.00 in a research report report published on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

NUVL has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price target on shares of Nuvalent from $100.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, October 4th. Barclays started coverage on shares of Nuvalent in a research note on Thursday, August 29th. They issued an “overweight” rating and a $100.00 price target for the company. UBS Group started coverage on shares of Nuvalent in a research note on Thursday, October 24th. They issued a “neutral” rating and a $100.00 price target for the company. Guggenheim upped their price target on shares of Nuvalent from $99.00 to $105.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Lifesci Capital raised shares of Nuvalent to a “strong-buy” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Nuvalent currently has an average rating of “Moderate Buy” and a consensus target price of $112.60.

View Our Latest Analysis on NUVL

Nuvalent Stock Down 3.7 %

Nuvalent stock opened at $86.88 on Wednesday. The firm has a 50-day moving average price of $97.28 and a two-hundred day moving average price of $83.17. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of -25.04 and a beta of 1.33. Nuvalent has a 52-week low of $56.52 and a 52-week high of $113.51.

Nuvalent (NASDAQ:NUVLGet Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.35). During the same quarter in the previous year, the business earned ($0.59) EPS. Research analysts expect that Nuvalent will post -3.58 earnings per share for the current year.

Insider Activity

In other news, CEO James Richard Porter sold 27,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $102.28, for a total transaction of $2,761,560.00. Following the sale, the chief executive officer now owns 188,113 shares in the company, valued at $19,240,197.64. The trade was a 12.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Shair sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $84.46, for a total transaction of $168,920.00. Following the completion of the transaction, the director now owns 228,522 shares in the company, valued at approximately $19,300,968.12. This represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,122,629 shares of company stock worth $207,180,508 over the last 90 days. 12.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Nuvalent by 9.4% in the 3rd quarter. Geode Capital Management LLC now owns 855,610 shares of the company’s stock valued at $87,546,000 after buying an additional 73,429 shares during the period. M&T Bank Corp increased its stake in Nuvalent by 21.0% in the 3rd quarter. M&T Bank Corp now owns 7,281 shares of the company’s stock valued at $745,000 after buying an additional 1,263 shares during the period. Barclays PLC increased its stake in Nuvalent by 149.0% in the 3rd quarter. Barclays PLC now owns 68,107 shares of the company’s stock valued at $6,968,000 after buying an additional 40,754 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Nuvalent in the 3rd quarter valued at approximately $1,255,000. Finally, Wellington Management Group LLP increased its stake in Nuvalent by 65.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,011,837 shares of the company’s stock valued at $103,511,000 after buying an additional 400,402 shares during the period. Institutional investors and hedge funds own 97.26% of the company’s stock.

Nuvalent Company Profile

(Get Free Report)

Nuvalent, Inc, a clinical stage biopharmaceutical company, engages in the development of therapies for patients with cancer. Its lead product candidates are NVL-520, a novel ROS1-selective inhibitor to address the clinical challenges of emergent treatment resistance, central nervous system (CNS)-related adverse events, and brain metastases that may limit the use of ROS1 tyrosine kinase inhibitors (TKIs) for patients with ROS proto-oncogene 1 (ROS1)-positive non-small cell lung cancer (NSCLC) which is under the phase 2 portion of the ARROS-1 Phase 1/2 clinical trial; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, CNS-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under the phase 2 portion of the ALKOVE-1 Phase 1/2 clinical trial; and NVL-330, a brain-penetrant human epidermal growth factor receptor 2 (HER2)-selective inhibitor designed to treat tumors driven by HER2ex20, brain metastases, and avoiding treatment-limiting adverse events including due to off-target inhibition of wild-type EGFR, which is expected to initiate phase 1 trial.

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Analyst Recommendations for Nuvalent (NASDAQ:NUVL)

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