Wedbush Reaffirms Outperform Rating for Nuvation Bio (NYSE:NUVB)

Nuvation Bio (NYSE:NUVB)‘s stock had its “outperform” rating reaffirmed by Wedbush in a research note issued on Monday,RTT News reports. They presently have a $5.00 target price on the stock. Wedbush’s target price would indicate a potential upside of 55.28% from the company’s previous close.

NUVB has been the topic of several other reports. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Nuvation Bio in a report on Monday. Royal Bank of Canada upped their price target on shares of Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Nuvation Bio currently has an average rating of “Buy” and an average price target of $7.40.

Nuvation Bio Stock Performance

Shares of NUVB stock opened at $3.22 on Monday. Nuvation Bio has a 52-week low of $1.43 and a 52-week high of $4.16. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -1.48 and a beta of 1.47. The firm’s 50-day moving average is $2.72 and its 200-day moving average is $2.82.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data 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. Sell-side analysts predict that Nuvation Bio will post -0.4 EPS for the current fiscal year.

Institutional Trading of Nuvation Bio

Several hedge funds and other institutional investors have recently bought and sold shares of NUVB. B. Riley Wealth Advisors Inc. bought a new position in shares of Nuvation Bio during the second quarter worth approximately $29,000. EverSource Wealth Advisors LLC grew its position in Nuvation Bio by 913.2% during the second quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock worth $32,000 after buying an additional 10,000 shares in the last quarter. Xponance Inc. bought a new position in Nuvation Bio during the 2nd quarter worth $33,000. Caxton Associates LP acquired a new position in Nuvation Bio in the 2nd quarter valued at $43,000. Finally, Choreo LLC bought a new stake in shares of Nuvation Bio during the 2nd quarter valued at $47,000. 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.