Wedbush Predicts Nuvalent’s FY2027 Earnings (NASDAQ:NUVL)

Nuvalent, Inc. (NASDAQ:NUVL) – Research analysts at Wedbush cut their FY2027 EPS estimates for shares of Nuvalent in a note issued to investors on Wednesday, November 19th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings per share of ($6.04) for the year, down from their prior forecast of ($5.80). Wedbush currently 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 ($1.60) EPS.

Several other brokerages have also recently commented on NUVL. Cantor Fitzgerald initiated coverage on Nuvalent in a research note on Wednesday, October 15th. They issued an “overweight” rating and a $135.00 price target for the company. The Goldman Sachs Group boosted their target price on shares of Nuvalent from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Guggenheim increased their price target on shares of Nuvalent from $125.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, November 18th. Canaccord Genuity Group started coverage on shares of Nuvalent in a report on Wednesday, November 12th. They set a “buy” rating and a $126.00 price target on the stock. Finally, Raymond James Financial assumed coverage on shares of Nuvalent in a report on Tuesday, September 2nd. They issued an “outperform” rating and a $105.00 price objective for the company. Thirteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Nuvalent has a consensus rating of “Moderate Buy” and a consensus price target of $137.69.

Nuvalent Price Performance

Shares of NUVL stock opened at $105.88 on Monday. Nuvalent has a fifty-two week low of $55.53 and a fifty-two week high of $112.88. The stock’s 50-day moving average is $90.70 and its two-hundred day moving average is $82.03. The firm has a market cap of $7.70 billion, a P/E ratio of -19.90 and a beta of 1.31.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NUVL. CIBC Bancorp USA Inc. bought a new stake in shares of Nuvalent in the third quarter valued at approximately $396,000. Woodline Partners LP boosted its holdings in Nuvalent by 18.3% in the 3rd quarter. Woodline Partners LP now owns 1,069,520 shares of the company’s stock valued at $92,492,000 after purchasing an additional 165,288 shares during the period. Alyeska Investment Group L.P. grew its position in Nuvalent by 102.1% in the 3rd quarter. Alyeska Investment Group L.P. now owns 101,066 shares of the company’s stock worth $8,740,000 after purchasing an additional 51,066 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Nuvalent in the 3rd quarter worth $493,000. Finally, Vestal Point Capital LP increased its holdings in shares of Nuvalent by 2.3% during the 3rd quarter. Vestal Point Capital LP now owns 1,100,000 shares of the company’s stock worth $95,128,000 after purchasing an additional 25,000 shares during the period. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Alexandra Balcom sold 20,000 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $88.51, for a total transaction of $1,770,200.00. Following the completion of the transaction, the chief financial officer owned 61,734 shares of the company’s stock, valued at approximately $5,464,076.34. The trade was a 24.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James Richard Porter sold 27,000 shares of the stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $90.63, for a total value of $2,447,010.00. Following the sale, the chief executive officer owned 249,062 shares of the company’s stock, valued at approximately $22,572,489.06. The trade was a 9.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 291,000 shares of company stock worth $27,207,121 in the last 90 days. Insiders own 10.20% of the company’s stock.

About Nuvalent

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.