Cantor Fitzgerald initiates Nuvation Bio stock with overweight rating
Cantor Fitzgerald has begun tracking Nuvation Bio Inc (NYSE:NUVB) with an overweight rating and an ambitious 12-month price target of $12 per share. The firm's research focuses on two targeted therapies developed by the commercial-stage oncology company: Ibtrozi, a ROS1 inhibitor for ROS1-positive non-small cell lung cancer, and safusidenib, an IDH1 inhibitor in Phase 3 development for IDH1-mutant glioma.
Cantor Fitzgerald anticipates peak sales of $965 million for Ibtrozi and approximately $1.9 billion for safusidenib. This pricing implies a 73% upside from the stock's current level of $6.83, which has surged 149% over the past year. Nuvation Bio boasts a market capitalization of about $2.6 billion and a strong gross profit margin of 88%.
However, the company reported a loss per share of 18 cents in its second-quarter 2026 revenue of $31.7 million, exceeding Wall Street's estimate. Despite this, JPMorgan has also initiated coverage of Nuvation Bio with an overweight rating and a higher price target of $13.00, citing early success of its lead product in treating advanced ROS1+ non-small cell lung cancer.
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