Piper Sandler Initiates Nuvalent (NUVL) Amid Key Cancer Drug Catalysts

Nuvalent, Inc. (NASDAQ:NUVL) ranks among the best mid-cap stocks with huge upside potential. On August 19, Piper Sandler began coverage of Nuvalent, Inc. (NASDAQ:NUVL) with a price target of $112 and an Overweight rating. Although investors appear to be waiting for first-line ALK data, which is anticipated in a few years, the firm sees Nuvalent, Inc. (NASDAQ:NUVL) as a precision oncology company with potential for near-term value development over the next 18 months.

Piper Sandler identified three future catalysts for the stock, including revised Phase II neladalkib data in second-line and beyond ALK NSCLC, which is anticipated later this year and will aid in differentiation against rival therapies. The firm also mentioned that initial commercial sales of zidesamtinib are expected in 2026 in the ROS1 market, which it contends investors are currently undervaluing.

Nuvalent, Inc. (NASDAQ:NUVL) is a clinical-stage biopharmaceutical company that develops precisely tailored medicines for kinase-driven cancers.

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Disclosure: None. This article is originally published at Insider Monkey.