Market News Alert: Nuvectis Pharma Receives $18 Price Target and Buy Rating from Lucid Capital Markets
Precision oncology player Nuvectis Pharma receives a buy recommendation and price target with a significant premium from Lucid Capital Markets. Report highlights Nuvectis' potential to generate hundreds of millions of dollars in revenue and notes upcoming phase 1a clinical data as a potential catalyst
Market News Alerts Reports: Lucid Capital Markets has initiated coverage on Nuvectis Pharma (NASDAQ:NVCT) with a Buy rating and a price target of $18. The firm's report highlights Nuvectis' promising oncology pipeline, particularly its lead asset, NXP900, a SRC/YES1 inhibitor targeting squamous cell carcinomas with high unmet need.
Lucid's report emphasizes the strong potential of NXP900, which is currently in Phase 1 clinical trials and has shown an encouraging safety profile while continuing dose escalation. The firm projects peak non-risk-adjusted sales of over $900 million for NXP900 across multiple cancer indications by 2041.
Additionally, Nuvectis' second asset, NXP800, a GCN2 activator, is in Phase 1b trials targeting ARID1a-mutated ovarian cancer. Although previous dosing regimens required adjustments due to safety concerns, the report views NXP800 as a potential upside with limited downside risk. The company's financial position is another key factor supporting the Buy rating. With cash and equivalents of $18.5 million as of year-end 2024 and a recent $15.5 million public offering in Q1 2025, Lucid forecasts that Nuvectis has a cash for a significant period of time, allowing it to continue advancing its clinical programs.
Lucid firm sees upcoming Phase 1a data in 2025 as a potential catalyst for the stock, along with the planned initiation of a Phase 1b trial and combination studies later this year.
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Recent News from Nuvectis
- Nuvectis Pharma, Inc. Reports 2024 Financial Results and Business Highlights
- Nuvectis Pharma Announces Closing of $15.5 Million Public Offering of Common Stock and Full Exercise of Underwriter's Over-Allotment Option
- Nuvectis Pharma to Present at the 2024 Ladenburg Virtual Oncology Innovators & Investors Symposium
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