RBC Capital increased its price target for Nuvation Bio Inc. to $20.00 from $13.00. The firm reaffirmed its "Outperform" rating on the stock.
The revision reflects growing optimism about the company's potential in the underserved glioma market.
RBC Capital's positive outlook centers on Nuvation's development of targeted cancer drugs for hard-to-treat tumors. The firm highlighted the potential for substantial revenue generation. It noted a critical need for new treatments for high-grade gliomas. Prognosis for these conditions can be as short as 12 months.