Wedbush Brokers Increase Earnings Estimates for Nuvation Bio

Nuvation Bio Inc. (NYSE:NUVB) – Equities research analysts at Wedbush boosted their Q3 2024 earnings estimates for Nuvation Bio in a research report issued on Tuesday, October 22nd. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings per share of ($0.12) for the quarter, up from their previous estimate of ($0.16). Wedbush has a “Outperform” rating and a $5.00 price target on the stock. The consensus estimate for Nuvation Bio’s current full-year earnings is ($0.41) per share. Wedbush also issued estimates for Nuvation Bio’s Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($0.24) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at ($0.14) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.19) EPS, FY2025 earnings at ($0.62) EPS, FY2026 earnings at ($0.58) EPS and FY2027 earnings at ($0.32) EPS.

A number of other equities analysts have also recently weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a report on Tuesday, August 6th. HC Wainwright decreased their target price on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $6.40.

Nuvation Bio Stock Down 4.8 %

NUVB stock opened at $2.19 on Thursday. Nuvation Bio has a 52-week low of $0.95 and a 52-week high of $4.16. The stock has a market cap of $545.84 million, a price-to-earnings ratio of -1.04 and a beta of 1.36. The business has a fifty day moving average of $2.68 and a two-hundred day moving average of $2.94.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The firm had revenue of $1.44 million for the quarter.

Insider Transactions at Nuvation Bio

In other Nuvation Bio news, Director Robert Mashal purchased 100,000 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was bought at an average cost of $2.20 per share, with a total value of $220,000.00. Following the acquisition, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $220,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.07% of the company’s stock.

Institutional Trading of Nuvation Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Nuvation Bio by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock valued at $27,424,000 after buying an additional 219,533 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Nuvation Bio by 551.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock worth $4,932,000 after purchasing an additional 1,146,794 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Nuvation Bio by 81.9% during the first quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company’s stock worth $4,273,000 after purchasing an additional 528,660 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Nuvation Bio by 415.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock worth $2,975,000 after purchasing an additional 820,669 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Nuvation Bio by 254.1% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 748,793 shares of the company’s stock valued at $2,726,000 after purchasing an additional 537,314 shares during the last quarter. Institutional investors and hedge funds 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.