Wells Fargo analyst Eva Fortea Verdejo initiated coverage of Nuvalent with an Overweight rating and $116 price target. The firm believes the company's zidesamtinib has "best-in-class" potential in ROS1-positive non-small cell lung cancer. In addition, neladalkib's safety supports differentiation in ALK-positive lung cancer, the analyst tells investors in a research note. Wells is a buyer of Nuvalent shares ahead of the two potential FDA approvals in the next 12-18 months.
