HC Wainwright Issues Positive Estimate for Nuvalent Earnings

Nuvalent, Inc. (NASDAQ:NUVL - Free Report) - Equities research analysts at HC Wainwright upped their FY2026 earnings per share estimates for Nuvalent in a research note issued on Tuesday, June 24th. HC Wainwright analyst S. Ramakanth now forecasts that the company will post earnings per share of ($3.19) for the year, up from their previous forecast of ($3.24). HC Wainwright currently has a "Buy" rating and a $130.00 target price on the stock. The consensus estimate for Nuvalent's current full-year earnings is ($3.86) per share. HC Wainwright also issued estimates for Nuvalent's Q4 2026 earnings at ($0.52) EPS, FY2027 earnings at ($0.12) EPS, FY2028 earnings at $2.96 EPS and FY2029 earnings at $7.50 EPS.

Nuvalent (NASDAQ:NUVL - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($1.14) by ($0.04). During the same quarter last year, the firm posted ($0.69) earnings per share.

NUVL has been the subject of several other research reports. UBS Group raised Nuvalent from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a report on Friday, March 14th. Wedbush reaffirmed an "outperform" rating and issued a $115.00 price target on shares of Nuvalent in a report on Tuesday, June 24th. Leerink Partners increased their price target on Nuvalent from $125.00 to $140.00 and gave the company an "outperform" rating in a report on Tuesday, June 24th. Finally, Robert W. Baird increased their price target on Nuvalent from $105.00 to $112.00 and gave the company an "outperform" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $119.60.

Nuvalent Price Performance

Shares of NASDAQ:NUVL traded up $0.55 during midday trading on Thursday, hitting $79.68. The company had a trading volume of 2,067,676 shares, compared to its average volume of 500,733. Nuvalent has a twelve month low of $55.54 and a twelve month high of $113.51. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of -18.15 and a beta of 1.34. The business's 50-day simple moving average is $74.73 and its 200-day simple moving average is $76.14.

Institutional Investors Weigh In On Nuvalent

Institutional investors have recently modified their holdings of the company. Crowley Wealth Management Inc. acquired a new stake in shares of Nuvalent in the fourth quarter valued at $27,000. CWM LLC grew its stake in shares of Nuvalent by 588.5% in the first quarter. CWM LLC now owns 420 shares of the company's stock valued at $30,000 after buying an additional 359 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in shares of Nuvalent in the first quarter valued at $38,000. Quarry LP acquired a new stake in shares of Nuvalent in the fourth quarter valued at $39,000. Finally, Covestor Ltd grew its stake in shares of Nuvalent by 705.7% in the first quarter. Covestor Ltd now owns 983 shares of the company's stock valued at $70,000 after buying an additional 861 shares in the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Nuvalent news, insider Henry E. Pelish sold 8,630 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $79.87, for a total transaction of $689,278.10. Following the completion of the sale, the insider now owns 63,101 shares of the company's stock, valued at $5,039,876.87. This trade represents a 12.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James Richard Porter sold 27,000 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $68.94, for a total value of $1,861,380.00. Following the sale, the chief executive officer now directly owns 249,062 shares of the company's stock, valued at approximately $17,170,334.28. This trade represents a 9.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,000 shares of company stock valued at $2,740,049 over the last quarter. 10.20% of the stock is owned by insiders.

About Nuvalent

Nuvalent, Inc, a clinical stage biopharmaceutical company, engages in the development of therapies for patients with cancer. Its lead product candidates are NVL-520, a novel ROS1-selective inhibitor to address the clinical challenges of emergent treatment resistance, central nervous system (CNS)-related adverse events, and brain metastases that may limit the use of ROS1 tyrosine kinase inhibitors (TKIs) for patients with ROS proto-oncogene 1 (ROS1)-positive non-small cell lung cancer (NSCLC) which is under the phase 2 portion of the ARROS-1 Phase 1/2 clinical trial; NVL-655, a brain-penetrant ALK-selective inhibitor, to address the clinical challenges of emergent treatment resistance, CNS-related adverse events, and brain metastases that might limit the use of first-, second-, and third-generation ALK inhibitors that is under the phase 2 portion of the ALKOVE-1 Phase 1/2 clinical trial; and NVL-330, a brain-penetrant human epidermal growth factor receptor 2 (HER2)-selective inhibitor designed to treat tumors driven by HER2ex20, brain metastases, and avoiding treatment-limiting adverse events including due to off-target inhibition of wild-type EGFR, which is expected to initiate phase 1 trial.