Truist Securities has revised its price target for Nuvation Bio Inc from $11.00 to $13.00, while retaining a Buy rating on the shares. The increase follows the research firm’s review of Nuvation Bio’s fourth-quarter 2025 pre-report and a one-on-one meeting with the company’s management team.
In its assessment, Truist pointed to the Ibtrozi franchise as showing a "robust opportunity out of the gate," citing stronger-than-anticipated uptake even in the face of seasonal headwinds. The research firm characterized the drug as the "ROS1 agent of choice versus competitors," a positioning that informed its updated valuation.
Truist also identified potential upside in Nuvation Bio’s safusidenib program for mIDH1 glioma, while noting that the firm is awaiting greater clarity on registrational timelines. The research note mentioned that readouts for that program could be available as early as this year, a development Truist views as adding to the program’s optionality.
The revised price target represents an 18.2% increase from Truist’s prior $11.00 target.
Separately, Nuvation Bio reported fourth-quarter 2025 sales of IBTROZI of approximately $15.7 million. That figure was slightly below H.C. Wainwright’s estimate of $16.4 million but in line with the consensus estimate of $15.5 million.
In a strategic commercial move, Nuvation Bio entered a licensing agreement with Eisai Co., Ltd. for the development and commercialization of taletrectinib for ROS1-positive non-small cell lung cancer across multiple regions. The deal includes an upfront payment of c50 million ($60 million), potential milestone payments totaling up to c145 million ($170 million), and tiered royalties.
Analyst activity around the company has been active. Jones Trading raised its price target to $12 and maintained a Buy rating. H.C. Wainwright lowered its target to $17 while also keeping a Buy rating. Citizens reiterated a Market Outperform rating and highlighted the potential for rapid growth as Nuvation Bio builds Ibtrozi’s presence in the U.S. Meanwhile, UBS initiated coverage with a Neutral rating and a $10 price target, noting the company’s approved oral pill for lung cancer.
Collectively, these analyst moves and the company’s reported sales and licensing arrangement reflect ongoing strategic developments for Nuvation Bio and shape market expectations for its commercial trajectory.
While the Truist price-target uplift signals growing confidence in Ibtrozis initial commercial performance and potential pipeline upside, market watchers remain attentive to upcoming registrational clarity and additional sales trends that will further inform valuations and analyst views.