Nuvation Bio (NYSE:NUVB) Earns “Buy” Rating from HC Wainwright

Nuvation Bio (NYSE:NUVB)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $7.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 117.39% from the company’s previous close.

NUVB has been the subject of several other research reports. Royal Bank of Canada increased their price objective on Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Wedbush reiterated an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a report on Monday, December 23rd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Nuvation Bio presently has a consensus rating of “Buy” and an average target price of $7.40.

Nuvation Bio Stock Up 13.4 %

Shares of NYSE:NUVB opened at $3.22 on Monday. Nuvation Bio has a fifty-two week low of $1.43 and a fifty-two week high of $4.16. The firm’s 50-day simple moving average is $2.72 and its 200-day simple moving average is $2.82. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -1.48 and a beta of 1.47.

Nuvation Bio (NYSE:NUVB) last released its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The business had revenue of $0.73 million during the quarter. On average, research analysts forecast that Nuvation Bio will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in Nuvation Bio by 479.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 442,913 shares of the company’s stock valued at $1,014,000 after acquiring an additional 366,429 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Nuvation Bio by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company’s stock valued at $9,227,000 after purchasing an additional 196,247 shares in the last quarter. Frazier Life Sciences Management L.P. acquired a new stake in shares of Nuvation Bio in the third quarter valued at approximately $2,790,000. XTX Topco Ltd purchased a new position in shares of Nuvation Bio during the 3rd quarter worth approximately $302,000. Finally, Zacks Investment Management raised its position in shares of Nuvation Bio by 21.5% during the 3rd quarter. Zacks Investment Management now owns 36,125 shares of the company’s stock worth $83,000 after purchasing an additional 6,394 shares during the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Company Profile

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.