Nuvalent (NASDAQ:NUVL) Price Target Raised to $125.00

Nuvalent (NASDAQ:NUVL) had its target price hoisted by stock analysts at JPMorgan Chase & Co. from $100.00 to $125.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 19.13% from the stock’s current price.

A number of other brokerages have also recently issued reports on NUVL. BMO Capital Markets increased their target price on Nuvalent from $102.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Wedbush raised their price objective on shares of Nuvalent from $99.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, September 16th. Lifesci Capital raised shares of Nuvalent to a “strong-buy” rating in a research report on Monday, July 29th. Guggenheim upped their target price on shares of Nuvalent from $99.00 to $105.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, The Goldman Sachs Group upgraded Nuvalent to a “strong sell” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $113.78.

Nuvalent Trading Up 1.4 %

Shares of NASDAQ NUVL opened at $104.93 on Friday. The firm has a market capitalization of $6.77 billion, a P/E ratio of -43.54 and a beta of 1.29. The firm’s 50-day moving average price is $86.56 and its 200-day moving average price is $77.79. Nuvalent has a 1-year low of $49.02 and a 1-year high of $113.51.

Nuvalent (NASDAQ:NUVL) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.12). During the same period last year, the business earned ($0.51) earnings per share. Equities research analysts forecast that Nuvalent will post -3.55 EPS for the current year.

Insider Buying and Selling at Nuvalent

In other news, insider Henry E. Pelish sold 32,795 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $98.92, for a total value of $3,244,081.40. Following the transaction, the insider now owns 33,300 shares in the company, valued at $3,294,036. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Henry E. Pelish sold 32,795 shares of Nuvalent stock in a transaction on Monday, September 16th. The stock was sold at an average price of $98.92, for a total transaction of $3,244,081.40. Following the sale, the insider now directly owns 33,300 shares in the company, valued at approximately $3,294,036. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Deborah Ann Miller sold 3,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $68.78, for a total value of $206,340.00. Following the completion of the transaction, the insider now directly owns 33,300 shares in the company, valued at approximately $2,290,374. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 117,629 shares of company stock worth $10,494,558. Insiders own 12.52% of the company’s stock.

Institutional Trading of Nuvalent

A number of large investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc boosted its stake in Nuvalent by 19.7% in the fourth quarter. TD Asset Management Inc now owns 54,478 shares of the company’s stock valued at $4,009,000 after acquiring an additional 8,954 shares during the last quarter. Vestal Point Capital LP purchased a new position in Nuvalent in the fourth quarter valued at approximately $14,718,000. Ghisallo Capital Management LLC bought a new position in Nuvalent during the fourth quarter valued at $3,680,000. Commodore Capital LP increased its position in Nuvalent by 60.6% in the fourth quarter. Commodore Capital LP now owns 1,331,037 shares of the company’s stock worth $97,951,000 after buying an additional 502,259 shares during the last quarter. Finally, Parkman Healthcare Partners LLC bought a new stake in shares of Nuvalent in the fourth quarter valued at $4,406,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.

About Nuvalent

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.