Wedbush Has Positive Outlook for Nuvation Bio Q3 Earnings

Nuvation Bio Inc. (NYSE:NUVB) – Investment analysts at Wedbush boosted their Q3 2024 EPS estimates for shares of Nuvation Bio in a research note issued on Tuesday, October 22nd. Wedbush analyst D. Nierengarten now forecasts that the company will earn ($0.12) per share for the quarter, up from their prior forecast of ($0.16). Wedbush has a “Outperform” rating and a $5.00 price objective on the stock. The consensus estimate for Nuvation Bio’s current full-year earnings is ($0.40) per share. Wedbush also issued estimates for Nuvation Bio’s Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($0.24) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at ($0.14) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.19) EPS, FY2025 earnings at ($0.62) EPS, FY2026 earnings at ($0.58) EPS and FY2027 earnings at ($0.32) EPS.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research note on Tuesday, August 6th. HC Wainwright decreased their price target on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $6.40.

Nuvation Bio Stock Performance

Shares of Nuvation Bio stock opened at $2.33 on Thursday. The firm has a market cap of $579.48 million, a P/E ratio of -1.11 and a beta of 1.36. The firm’s 50-day simple moving average is $2.70 and its 200-day simple moving average is $2.95. Nuvation Bio has a twelve month low of $0.95 and a twelve month high of $4.16.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Monday, August 5th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The company had revenue of $1.44 million during the quarter.

Insider Buying and Selling at Nuvation Bio

In related news, Director Robert Mashal purchased 100,000 shares of the stock in a transaction on Tuesday, October 8th. The shares were purchased at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $220,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.07% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Institutional investors and hedge funds have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. acquired a new position in Nuvation Bio in the second quarter worth $29,000. EverSource Wealth Advisors LLC boosted its stake in Nuvation Bio by 913.2% in the second 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 in the last quarter. Xponance Inc. acquired a new position in Nuvation Bio in the second quarter worth $33,000. Caxton Associates LP acquired a new position in Nuvation Bio in the second quarter worth $43,000. Finally, Choreo LLC acquired a new position in Nuvation Bio in the second quarter worth $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.