Cantor Fitzgerald initiated coverage on Nuvation Bio Inc. with an Overweight rating. The firm established a 12-month price target of $12 per share. This valuation suggests significant upside from the current stock price.
The rating reflects optimism regarding two lead oncology candidates. Ibtrozi targets non-small cell lung cancer. Safusidenib is currently undergoing Phase 3 clinical trials for the treatment of glioma.
The U.S. Food and Drug Administration granted Fast Track Designation for safusidenib on August 20. This status facilitates an expedited development and review timeline. Recent weeks have seen a broader trend of positive analyst recommendations for the company.