Nuvalent (NASDAQ:NUVL) Receives Outperform Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Nuvalent (NASDAQ:NUVL) in a research report released on Tuesday,RTT News reports. Wedbush currently has a $115.00 price objective on the stock. Wedbush also issued estimates for Nuvalent’s Q4 2024 earnings at ($0.91) EPS, FY2024 earnings at ($3.78) EPS, Q1 2025 earnings at ($0.98) EPS, Q2 2025 earnings at ($1.04) EPS, Q3 2025 earnings at ($1.08) EPS, Q4 2025 earnings at ($1.14) EPS, FY2025 earnings at ($4.23) EPS, FY2026 earnings at ($4.55) EPS and FY2027 earnings at ($2.37) EPS.

Other research analysts have also issued reports about the stock. Lifesci Capital raised shares of Nuvalent to a “strong-buy” rating in a research note on Monday, July 29th. Stifel Nicolaus lifted their price target on shares of Nuvalent from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. UBS Group began coverage on shares of Nuvalent in a research report on Thursday, October 24th. They issued a “neutral” rating and a $100.00 price objective on the stock. The Goldman Sachs Group upgraded Nuvalent to a “strong sell” rating in a research report on Monday, September 16th. Finally, BMO Capital Markets increased their price target on Nuvalent from $102.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $112.60.

Nuvalent Trading Down 3.7 %

Shares of NASDAQ NUVL opened at $86.88 on Tuesday. Nuvalent has a 12-month low of $56.52 and a 12-month high of $113.51. The firm’s 50-day moving average price is $97.28 and its 200-day moving average price is $83.08. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of -25.04 and a beta of 1.33.

Nuvalent (NASDAQ:NUVL) last issued its quarterly earnings data 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 last year, the firm posted ($0.59) earnings per share. On average, equities analysts predict that Nuvalent will post -3.58 EPS for the current fiscal year.

Insider Transactions at Nuvalent

In other news, CFO Alexandra Balcom sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $89.19, for a total value of $891,900.00. Following the completion of the sale, the chief financial officer now owns 33,300 shares of the company’s stock, valued at approximately $2,970,027. This represents a 23.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Shair sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 directly owns 228,522 shares of the company’s stock, valued at $19,300,968.12. This trade represents a 0.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,122,629 shares of company stock valued at $207,180,508. 12.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nuvalent

A number of large investors have recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in Nuvalent during the 2nd quarter valued at about $44,000. Amalgamated Bank raised its position in shares of Nuvalent by 21.8% in the 2nd quarter. Amalgamated Bank now owns 1,105 shares of the company’s stock valued at $84,000 after purchasing an additional 198 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Nuvalent in the 1st quarter worth approximately $121,000. Allspring Global Investments Holdings LLC grew its position in Nuvalent by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,235 shares of the company’s stock worth $168,000 after purchasing an additional 189 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC acquired a new position in Nuvalent during the 1st quarter valued at approximately $202,000. 97.26% of the stock is currently owned by institutional investors.

Nuvalent Company Profile

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.