RBC Capital Lowers PT on Nuvation Bio (NUVB) to $6 But Keeps a Buy Rating

Nuvation Bio Inc. (NYSE:NUVB) is one of the 13 Best Long-Term Penny Stocks to Buy According to Analysts. RBC Capital analyst Leonid Timashev maintained a Buy rating on Nuvation Bio Inc. (NYSE:NUVB) on June 17, lowering the price target to $6.00 from $10.00. The analyst told investors in a research note that the firm updated its model after the company’s transformation into a commercial stage biotech and the recent approval of Ibtrozi to treat cancer.

Is Nuvation Bio Inc. (NUVB) the Top Healthcare Stock to Buy According to Billionaire David Einhorn?

A close-up of researchers, carefully studying a biopharmaceutical compound in a laboratory.

Timashev acknowledged that the firm sees some potential challenges for the launch of Ibtrozi, including near-term competitive headwinds and patient finding. However, RBC is optimistic that these headwinds will be outweighed by the drug’s long treatment duration, favorable profile, and improving dx rates, supporting the positive rating for Nuvation Bio Inc. (NYSE:NUVB).

The analyst also reasoned that the stock is steeply discounting the recently realized commercial opportunity.

Nuvation Bio (NYSE:NUVB) is a biopharmaceutical company that develops therapeutic and differentiated candidates to tackle the gaps in oncology. It is advancing several clinical-stage candidates, including a bromodomain and extra-terminal (BET) inhibitor, a ROS1 inhibitor, a mutant isocitrate dehydrogenase 1 (mIDH1) inhibitor, and a drug-drug conjugate (DDC).

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