Nuvectis Pharma (NASDAQ:NVCT) Coverage Initiated by Analysts at Laidlaw

Analysts at Laidlaw started coverage on shares of Nuvectis Pharma (NASDAQ:NVCT) in a research report issued on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $19.00 price target on the stock. Laidlaw’s price target points to a potential upside of 101.27% from the company’s previous close.

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

Nuvectis Pharma Price Performance

Shares of NVCT stock opened at $9.44 on Monday. The stock has a market cap of $220.82 million, a P/E ratio of -8.14 and a beta of 0.23. The company has a fifty day moving average price of $6.84 and a two-hundred day moving average price of $6.47. Nuvectis Pharma has a one year low of $4.44 and a one year high of $11.80.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). As a group, equities research analysts anticipate that Nuvectis Pharma will post -1.01 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Nuvectis Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC acquired a new position in shares of Nuvectis Pharma in the 4th quarter worth approximately $103,000. Cubist Systematic Strategies LLC bought a new stake in shares of Nuvectis Pharma in the 4th quarter valued at $34,000. Northern Trust Corp lifted its position in shares of Nuvectis Pharma by 68.7% during the 4th quarter. Northern Trust Corp now owns 25,725 shares of the company’s stock valued at $139,000 after acquiring an additional 10,472 shares during the period. Marshall Wace LLP boosted its stake in Nuvectis Pharma by 191.0% during the fourth quarter. Marshall Wace LLP now owns 124,571 shares of the company’s stock worth $674,000 after acquiring an additional 81,757 shares in the last quarter. Finally, Baxter Bros Inc. grew its holdings in Nuvectis Pharma by 20.0% in the fourth quarter. Baxter Bros Inc. now owns 15,000 shares of the company’s stock worth $81,000 after purchasing an additional 2,500 shares during the period. 96.77% of the stock is owned by institutional investors.

About Nuvectis Pharma

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.