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BMO Capital has revised its one-year price target for Nuvalent Inc., forecasting a 12.25% decrease, according to an analyst report released on Friday. Despite the lowered target, the firm maintains an Outperform recommendation for the biopharmaceutical company.
The report also detailed Nuvalent’s projected annual revenue and non-GAAP earnings per share (EPS), though specific figures were not disclosed in the context provided.
Institutional interest in Nuvalent has been on the rise, with key shareholders such as Deerfield Management Company, Bain Capital Life Sciences Investors, Fairmount Funds Management, Perceptive Advisors, and Wellington Management Group highlighted in BMO Capital’s coverage.
These investors’ continued support could be seen as a vote of confidence in Nuvalent’s future prospects, despite the revised price target.
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