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

Laidlaw assumed coverage on shares of Nuvectis Pharma (NASDAQ:NVCT) in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $19.00 price target on the stock.

Separately, HC Wainwright reduced their target price on 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 Down 5.1 %

NVCT opened at $8.96 on Monday. The stock has a fifty day moving average of $6.84 and a 200-day moving average of $6.47. The firm has a market capitalization of $209.59 million, a P/E ratio of -7.72 and a beta of 0.23. Nuvectis Pharma has a 12-month low of $4.44 and a 12-month high of $11.80.

Nuvectis Pharma (NASDAQ:NVCT) last released its earnings results on Tuesday, March 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). On average, analysts expect that Nuvectis Pharma will post -1.01 earnings per share for the current fiscal year.

Insider Transactions at Nuvectis Pharma

In related news, major shareholder Marlio Charles Mosseri purchased 240,000 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were acquired at an average cost of $5.00 per share, with a total value of $1,200,000.00. Following the completion of the purchase, the insider now owns 2,884,121 shares of the company’s stock, valued at $14,420,605. The trade was a 9.08 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 35.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nuvectis Pharma

A number of hedge funds have recently modified their holdings of NVCT. Cubist Systematic Strategies LLC acquired a new position in shares of Nuvectis Pharma in the fourth quarter worth $34,000. Nations Financial Group Inc. IA ADV increased its position in Nuvectis Pharma by 35.0% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 13,500 shares of the company’s stock worth $73,000 after buying an additional 3,500 shares during the last quarter. Baxter Bros Inc. increased its position in 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 buying an additional 2,500 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Nuvectis Pharma during the fourth quarter worth $103,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Nuvectis Pharma during the fourth quarter worth $135,000. 96.77% of the stock is owned by institutional investors and hedge funds.

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.