10 Best Mid Cap Biotech Stocks to Buy

7. Nuvalent, Inc. (NASDAQ:NUVL)

Market Cap: $5.37 billion

Number of Hedge Fund Holders: 50

Nuvalent, Inc. (NASDAQ:NUVL) is a biopharmaceutical company developing precisely targeted therapies for cancer patients. It focuses on small molecules that can minimize adverse events, overcome resistance, and address metastases. The company has a robust pipeline, including ROS1 NSCLC, ALK NSCLC, and HER2 NSCLC.

H.C. Wainwright analyst Swayampakula Ramakanth maintained their bullish stance on Nuvalent, Inc. (NASDAQ:NUVL), giving a Buy rating on February 28. The analyst based their position on various factors, including the company’s strategic implementation of Expanded Access Programs (EAPs) for their investigational drugs, zidesamtinib and neladalkib. The programs have high demand, reflecting the growing interest from patients and physicians for new treatment options in clinical development. They also present Nuvalent, Inc. (NASDAQ:NUVL) with a cost-effective platform for boosting patient exposure to their treatment and building a broader prescriber base. The analyst expects this to support rapid market adoption after regulatory approval.

In addition, the company’s progress in clinical trials also supports the analyst’s bullish sentiments. Nuvalent, Inc. (NASDAQ:NUVL) is on track to release pivotal data for zidesamtinib in H1 2025, and a potential FDA approval can be expected in 2026. The company ranks seventh on our list of the top biotech stocks to buy now.