New York, Jan 9, 2026, 14:36 (EST) — Regular session
- Nuvation Bio shares were down about 4.7% in afternoon trade, even as biotech ETFs notched modest gains.
- UBS began coverage at Neutral with a $10 target, while RBC bumped its target to $9 and reiterated Outperform.
- Traders are watching the Jan. 13 JPM Healthcare Conference slot and early March results as the next update.
Nuvation Bio Inc (NUVB) shares slid about 4.7% to $8.05 Friday afternoon, after earlier hitting a session low of $8.05.
The stock’s pullback follows new sell-side takes on a name that’s been re-rated since shifting into the commercial stage. UBS started coverage at Neutral with a $10 price target. RBC, meanwhile, lifted its target to $9 from $8 and maintained an Outperform rating, calling the stock “speculative risk.” 1
UBS analyst Michael Yee said the bigger picture is starting to turn, arguing biotech “fundamentals are now inflecting” as investor confidence picks up, according to The Fly. UBS still stuck with a neutral stance on Nuvation, suggesting the next move comes down to execution rather than just sentiment. 2
Investors also have a nearer-term milestone on the calendar. The company said founder and CEO David Hung will present at the J.P. Morgan Healthcare Conference on Jan. 13 in San Francisco. 3
Nuvation’s valuation debate centers on IBTROZI, its once-daily oral therapy cleared in the United States for ROS1-positive non-small cell lung cancer, a rare subtype tied to changes in the ROS1 gene. IBTROZI goes up against other ROS1 inhibitors, including Bristol Myers Squibb’s Augtyro, Pfizer’s Xalkori and Roche’s Rozlytrek. 4
Biotech was steadier overall. The SPDR S&P Biotech ETF was up about 0.7% by midday, keeping Nuvation among the laggards even with the sector on firmer footing.
In its initiation, UBS zeroed in on two near-term questions: can Nuvation build the market by driving new patient starts in the first-line setting — the first treatment a patient gets — and can its IDH1 brain cancer program add upside. A “pivotal” study is a late-stage trial typically used to support regulatory approval. 5
Still, the story has its usual biotech potholes. A November filing said Nuvation halted development of its NUV-1511 program after results failed to stay consistently strong across cohorts, a reminder of how fast pipeline value can disappear when the data don’t line up. 6
After next week’s conference appearance, the next real test is earnings. Zacks expects Nuvation to report around March 5, and investors will likely zero in on early launch traction for IBTROZI and any changes in spending tied to pipeline priorities. 7
On deck: management’s Jan. 13 JPM Healthcare Conference presentation, followed by the early March results. Traders will be listening for a clean read-through on patient-start trends, any competitive pressure in ROS1 lung cancer, and whether the company can pin down firmer timing around the IDH1 program.
