Wedbush Has Bullish Outlook for Nuvalent FY2027 Earnings

Nuvalent, Inc. (NASDAQ:NUVL) – Research analysts at Wedbush increased their FY2027 earnings per share (EPS) estimates for Nuvalent in a report issued on Monday, November 17th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings of ($5.80) per share for the year, up from their prior forecast of ($5.89). Wedbush has a “Outperform” rating and a $125.00 price objective on the stock. The consensus estimate for Nuvalent’s current full-year earnings is ($3.86) per share. Wedbush also issued estimates for Nuvalent’s FY2028 earnings at ($1.75) EPS.

NUVL has been the topic of a number of other reports. Barclays set a $152.00 target price on Nuvalent in a research note on Monday. Guggenheim increased their price objective on shares of Nuvalent from $125.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvalent in a research report on Wednesday, October 8th. Piper Sandler upped their target price on shares of Nuvalent from $112.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Finally, Canaccord Genuity Group assumed coverage on shares of Nuvalent in a research note on Wednesday, November 12th. They issued a “buy” rating and a $126.00 price target on the stock. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $137.69.

Nuvalent Trading Up 2.6%

NUVL traded up $2.76 during trading on Thursday, reaching $109.89. 136,565 shares of the company were exchanged, compared to its average volume of 534,640. The stock has a market cap of $7.99 billion, a P/E ratio of -20.67 and a beta of 1.31. The firm has a 50 day moving average of $89.68 and a 200 day moving average of $81.43. Nuvalent has a 52 week low of $55.53 and a 52 week high of $112.53.

Nuvalent (NASDAQ:NUVL) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.31). During the same period last year, the business posted ($1.28) earnings per share.

Institutional Investors Weigh In On Nuvalent

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC lifted its position in Nuvalent by 588.5% in the first quarter. CWM LLC now owns 420 shares of the company’s stock worth $30,000 after purchasing an additional 359 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Nuvalent in the 3rd quarter worth $38,000. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Nuvalent in the first quarter valued at $38,000. Eastern Bank bought a new position in Nuvalent during the third quarter valued at about $52,000. Finally, Covestor Ltd grew its holdings in Nuvalent by 705.7% during the first quarter. Covestor Ltd now owns 983 shares of the company’s stock worth $70,000 after acquiring an additional 861 shares during the period. Institutional investors own 97.26% of the company’s stock.

Insider Activity at Nuvalent

In other Nuvalent news, Director Matthew Shair sold 32,455 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $100.27, for a total transaction of $3,254,262.85. Following the transaction, the director owned 1,383,044 shares of the company’s stock, valued at approximately $138,677,821.88. This trade represents a 2.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Alexandra Balcom sold 729 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $104.26, for a total transaction of $76,005.54. Following the completion of the sale, the chief financial officer directly owned 61,734 shares of the company’s stock, valued at approximately $6,436,386.84. This represents a 1.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 291,000 shares of company stock valued at $27,207,121 in the last ninety days. Company insiders own 10.20% of the company’s stock.

Nuvalent Company Profile

Nuvalent, Inc, a clinical stage biopharmaceutical company, engages in the development of therapies for patients with cancer. Its lead product candidates are NVL-520, a novel ROS1-selective inhibitor to address the clinical challenges of emergent treatment resistance, central nervous system (CNS)-related adverse events, and brain metastases that may limit the use of ROS1 tyrosine kinase inhibitors (TKIs) for patients with ROS proto-oncogene 1 (ROS1)-positive non-small cell lung cancer (NSCLC) which is under the phase 2 portion of the ARROS-1 Phase 1/2 clinical trial; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, CNS-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under the phase 2 portion of the ALKOVE-1 Phase 1/2 clinical trial; and NVL-330, a brain-penetrant human epidermal growth factor receptor 2 (HER2)-selective inhibitor designed to treat tumors driven by HER2ex20, brain metastases, and avoiding treatment-limiting adverse events including due to off-target inhibition of wild-type EGFR, which is expected to initiate phase 1 trial.