HC Wainwright Forecasts Increased Earnings for Nuvation Bio

Nuvation Bio Inc. (NYSE:NUVB) – HC Wainwright upped their FY2024 earnings per share (EPS) estimates for shares of Nuvation Bio in a report released on Monday, January 6th. HC Wainwright analyst R. Burns now anticipates that the company will post earnings per share of ($0.37) for the year, up from their previous forecast of ($0.50). HC Wainwright has a “Buy” rating and a $7.00 price objective on the stock. The consensus estimate for Nuvation Bio’s current full-year earnings is ($0.40) per share. HC Wainwright also issued estimates for Nuvation Bio’s Q4 2024 earnings at ($0.14) EPS, Q1 2025 earnings at ($0.15) EPS, Q3 2025 earnings at ($0.14) EPS, Q4 2025 earnings at ($0.12) EPS and FY2025 earnings at ($0.56) EPS.

NUVB has been the subject of several other research reports. Wedbush reissued an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and set a $10.00 price objective (up previously from $6.00) on shares of Nuvation Bio in a report on Tuesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $7.40.

Nuvation Bio Price Performance

Shares of NYSE:NUVB opened at $3.00 on Thursday. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -1.38 and a beta of 1.47. Nuvation Bio has a one year low of $1.43 and a one year high of $4.16. The firm has a fifty day moving average price of $2.75 and a two-hundred day moving average price of $2.83.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The firm had revenue of $0.73 million for the quarter.

Institutional Investors Weigh In On Nuvation Bio

A number of institutional investors have recently made changes to their positions in NUVB. JPMorgan Chase & Co. boosted its holdings in Nuvation Bio by 479.1% during 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 period. Geode Capital Management LLC boosted its stake in shares of Nuvation Bio by 5.1% during 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 during the period. Frazier Life Sciences Management L.P. bought a new position in shares of Nuvation Bio in the third quarter worth approximately $2,790,000. XTX Topco Ltd purchased a new position in shares of Nuvation Bio in the third quarter worth $302,000. Finally, Zacks Investment Management boosted its position in Nuvation Bio by 21.5% during the 3rd quarter. Zacks Investment Management now owns 36,125 shares of the company’s stock valued at $83,000 after buying an additional 6,394 shares during the period. Hedge funds and other institutional investors own 61.67% of the company’s stock.

About Nuvation Bio

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.