Nuvectis Pharma (NASDAQ:NVCT) Earns Buy Rating from Analysts at Laidlaw

Laidlaw initiated coverage on shares of Nuvectis Pharma (NASDAQ:NVCT) in a report released on Monday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $19.00 price objective on the stock.

Separately, HC Wainwright dropped their price objective on shares of Nuvectis Pharma from $21.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, February 25th.

Nuvectis Pharma Stock Up 7.2 %

NVCT opened at $9.49 on Monday. The firm has a 50-day simple moving average of $6.72 and a two-hundred day simple moving average of $6.43. Nuvectis Pharma has a 52 week low of $4.44 and a 52 week high of $11.89. The company has a market capitalization of $221.99 million, a PE ratio of -8.18 and a beta of 0.23.

Nuvectis Pharma (NASDAQ:NVCT) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.08). As a group, sell-side analysts expect that Nuvectis Pharma will post -1.01 earnings per share for the current year.

Insider Activity

In other Nuvectis Pharma news, major shareholder Marlio Charles Mosseri bought 240,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost of $5.00 per share, for a total transaction of $1,200,000.00. Following the transaction, the insider now owns 2,884,121 shares of the company’s stock, valued at $14,420,605. This represents a 9.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 35.78% of the company’s stock.

Institutional Trading of Nuvectis Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVCT. Cubist Systematic Strategies LLC purchased a new stake in Nuvectis Pharma in the 4th quarter worth about $34,000. Nations Financial Group Inc. IA ADV raised its position in Nuvectis Pharma by 35.0% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 13,500 shares of the company’s stock worth $73,000 after purchasing an additional 3,500 shares during the period. Baxter Bros Inc. increased its position in shares of Nuvectis Pharma by 20.0% during the fourth quarter. Baxter Bros Inc. now owns 15,000 shares of the company’s stock worth $81,000 after acquiring an additional 2,500 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Nuvectis Pharma during the fourth quarter worth approximately $103,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Nuvectis Pharma during the fourth quarter worth approximately $135,000. 96.77% of the stock is owned by hedge funds and other institutional investors.

Nuvectis Pharma Company Profile

Nuvectis Pharma, Inc, a biopharmaceutical company, focuses on the development of precision medicines for the treatment of serious unmet medical needs in oncology. The company's lead product candidate is NXP800, a novel small molecule that is in Phase 1b clinical trials for the treatment of patients with platinum-resistant, ARID1a-mutated ovarian carcinoma.