Why Nuvation Bio Stock Is Skyrocketing Today
Shares of Nuvation Bio (NYSE: NUVB) were skyrocketing 15.7% higher as of 11:20 a.m. ET on Tuesday. The big jump came after two positive developments for the cancer-focused drugmaker.
Nuvation Bio announced on Tuesday morning that it has enrolled the first patient in its phase 3 clinical study evaluating Ibtrozi (taletrectinib) for the treatment of resected ROS1-positive early stage non-small cell lung cancer (NSCLC). Also, Jefferies (NYSE: JEF) initiated coverage on Nuvation Bio with a buy rating. The investment banking and capital markets company set a price target for the stock of $10, reflecting an upside potential of roughly 210% from Nuvation's closing price on Monday, Sept. 29, 2025.
Which news provided the bigger catalyst for Nuvation Bio's stock? It was almost certainly Jefferies' decidedly upbeat coverage. Investors already anticipated that Nuvation would soon get patient enrollment going with its new phase 3 study of Ibtrozi. However, they didn't know that Jefferies would issue such a bullish price target.
Source Fool.com
