Nuvation Bio (NYSE:NUVB) Given Outperform Rating at Wedbush

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

A number of other equities research analysts also recently weighed in on NUVB. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Nuvation Bio in a research note on Monday. Royal Bank of Canada increased their price objective 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 investment analysts have rated the stock with a buy rating, According to MarketBeat, Nuvation Bio presently has a consensus rating of “Buy” and a consensus target price of $7.40.

Nuvation Bio Price Performance

Shares of NYSE:NUVB opened at $3.22 on Monday. The company’s 50 day simple moving average is $2.72 and its 200 day simple moving average is $2.82. Nuvation Bio has a 1 year low of $1.43 and a 1 year high of $4.16. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -1.48 and a beta of 1.47.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings results 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 during the quarter. As a group, analysts anticipate that Nuvation Bio will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Nuvation Bio

Several hedge funds have recently added to or reduced their stakes in the business. Zacks Investment Management raised its stake in shares of Nuvation Bio by 21.5% during the third quarter. Zacks Investment Management now owns 36,125 shares of the company’s stock valued at $83,000 after acquiring an additional 6,394 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Nuvation Bio by 58.7% in the second quarter. Principal Financial Group Inc. now owns 25,950 shares of the company’s stock valued at $76,000 after purchasing an additional 9,603 shares during the period. EverSource Wealth Advisors LLC raised its position in Nuvation Bio by 913.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock worth $32,000 after purchasing an additional 10,000 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Nuvation Bio during the 2nd quarter worth about $29,000. Finally, Xponance Inc. bought a new stake in shares of Nuvation Bio in the 2nd quarter valued at about $33,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

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.