H.C. Wainwright Reiterates Buy Rating on NextCure Inc. (NXTC)

H.C. Wainwright analyst Emily Bodnar reiterated a Buy rating and $20.00 price target on NextCure Inc. (NASDAQ: NXTC).

The analyst commented: "As a reminder, NextCure and Avere Therapeutics have announced a reverse merger, with the combined company to operate as Avere Therapeutics and trade under Nasdaq with ticker symbol "AVRX". The transaction is on track to complete in 2H26 subject to stockholder approval and other customary closing conditions. As part of the merger, Avere also announced a $320M private placement led by Fairmount and Hansoh with participation from large investment firms including Janus Henderson Investors and Wellington Management. The financing includes $251M of convertible notes that will be exchanged for common stock with the closing of the merger. On August 10, the company announced a second $500M private placement from a syndicate of leading healthcare investors (Venrock, General Atlantic, Blackstone, RTW, Eventide, among others) including common stock and pre-funded warrants to purchase common stock. Upon the closing of the merger, Avere is expected to have 449.7M as-converted shares outstanding. The combined funds (>$800M) are expended to fully fund Avere's operating plan including AVR-001 (once-weekly oral IL-23 receptor antagonist) Phase 2b trial in psoriasis initiating early 2027, Phase 3 trial in psoriasis initiating in 2028, and the Phase 2b trial in UC initiating in 2027. We are not currently changing our NXTC estimates beyond reported 2Q26 earnings numbers, though we plan to revisit our model after the transaction is complete. Reiterate Buy rating and $20 PT."

For an analyst ratings summary and ratings history on NextCure Inc. click here. For more ratings news on NextCure Inc. click here.

Shares of NextCure Inc. closed at $8.17 yesterday.

You May Also Be Interested In

• Activist investors push Seer, Inc. to disclose go-private timeline
• Trust Stamp reports 22% revenue rise and EU program selection
• Jefferies upgrades Five Below to Buy, sees path to TJX-like re-rating