Potential for over +700% return ?!

GNW (Genworth Financial) is a stock that I purchased recently at $3.51 per share

Company has formed a flat base in the stock price in recent years but i feel its massively undervalued

The book value per share is up at $30 and we have the following data:

Free cash flow = 1.96 billion
Total cash = 3.31 billion
Total debt = 3.64 billion

So debts are perfectly manageable with the cash they have and the nice positive cash flow coming in on top of that. the net asset value of the business is nearly 10x higher so this company looks massively undervalued to me. If we are able to reach the $30 per share target that would be a return of over 700%