H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating and $155.00 price target on Nuvalent (NASDAQ: NUVL).

The analyst commented: "Nuvalent presented updated clinical data and new preclinical data on its lead clinical candidate, zidesamtinib, a ROS1-selective tyrosine kinase inhibitor (TKI), at the 2026 annual meeting of the American Association for Cancer Research (AACR). Recall, Zidesamtinib is being evaluated in a Phase 1/2 ARROS-1 study in ROS1+ advanced solid tumors, with pivotal cohorts in TKI-naïve and TKI-pretreated ROS1+ NSCLC patients, and is currently under an FDA review with a PDUFA date of September 18, 2026. We believe these new data support zidesamtinib as a differentiated option for ROS1+ NSCLC patients, particularly those with brain metastases. We maintain our Buy rating on NUVL and our 12-month price target of $155 per share."

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Shares of Nuvalent closed at $108.24 yesterday.