Nuvation Bio Inc. (NYSE:NUVB) is one of the best healthcare penny stocks to buy according to hedge funds. On April 8, analysts at Truist Securities reiterated a Buy rating on Nuvation Bio Inc (NYSE:NUVB) with a $12 price target. The positive stance follows a meeting with the company’s management.
White medicinal tablets. Photo by Kaboompics.com
The meetings centered on the launch of Ibtrozi, the company’s FDA-approved once-daily inhibitor for treating adults with advanced or metastatic non-small cell lung cancer. Management confirmed the launch of the candidate drug, with prospects of it adding about 200 points per quarter in the near term.
The company is already capitalizing on patient mix shifting towards the use of Ibtrozi as a first line of defense, with the potential to expand as testing increases. Last year, Nuvation Bio generated $15.7 million in net product value from the launch of Ibtrozi, with 216 new patients starting treatment in the fourth quarter. In addition, Truist Securities touted the company’s Safu treatment prospects in Glioma.
Nuvation Bio Inc. (NYSE:NUVB) is a commercial-stage biopharmaceutical company focused on developing and commercializing novel, targeted oncology medicines for difficult-to-treat cancers. The company targets drug resistance and aims to improve patient quality of life through a deep pipeline of small molecule inhibitors and drug-drug conjugates.
While we acknowledge the potential of NUVB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 7 Penny Stocks That Aren’t Scams: Best Cheap Stocks to Buy and 8 Best Small-Cap Value Stocks to Buy According to Analysts.
Disclosure: None. Follow Insider Monkey on Google News.
