Nuvation Bio FY2024 EPS Estimate Increased by HC Wainwright

Nuvation Bio Inc. (NYSE:NUVB) – Equities research analysts at HC Wainwright raised their FY2024 EPS estimates for Nuvation Bio in a report issued on Monday, January 6th. HC Wainwright analyst R. Burns now expects that the company will earn ($0.37) per share for the year, up from their prior forecast of ($0.50). HC Wainwright has a “Buy” rating and a $7.00 price target 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.

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

Several other analysts also recently weighed in on the company. Wedbush reiterated an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $10.00 target price (up previously from $6.00) on shares of Nuvation Bio in a research report on Tuesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $7.40.

Nuvation Bio Trading Down 7.7 %

NYSE:NUVB opened at $3.00 on Thursday. The company has a market capitalization of $1.01 billion, a P/E ratio of -1.38 and a beta of 1.47. Nuvation Bio has a 12 month low of $1.43 and a 12 month high of $4.16. The firm has a fifty day simple moving average of $2.74 and a 200-day simple moving average of $2.82.

Institutional Trading of Nuvation Bio

A number of institutional investors and hedge funds have recently modified their holdings of NUVB. Zacks Investment Management boosted its position in shares of 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 acquiring an additional 6,394 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of 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 buying an additional 9,603 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Nuvation Bio by 913.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock valued at $32,000 after buying an additional 10,000 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in Nuvation Bio during the 2nd quarter worth about $29,000. Finally, Xponance Inc. acquired a new position in Nuvation Bio in the 2nd quarter valued at about $33,000. 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.