HC Wainwright Forecasts Strong Price Appreciation for Nuvation Bio (NYSE:NUVB) Stock

Nuvation Bio (NYSE:NUVB) had its target price lifted by HC Wainwright from $10.00 to $11.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 337.38% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Wedbush restated an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 target price (up from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $8.20.

Nuvation Bio Price Performance

Shares of Nuvation Bio stock opened at $2.52 on Thursday. Nuvation Bio has a 1 year low of $1.52 and a 1 year high of $4.16. The company has a market capitalization of $846.47 million, a P/E ratio of -1.16 and a beta of 1.47. The business has a 50 day moving average price of $2.74 and a 200 day moving average price of $2.80.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $0.73 million during the quarter. As a group, research analysts expect that Nuvation Bio will post -0.36 EPS for the current fiscal year.

Institutional Trading of Nuvation Bio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Zacks Investment Management grew its stake 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 buying an additional 6,394 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Nuvation Bio during the 2nd quarter valued at $29,000. EverSource Wealth Advisors LLC grew its stake in shares of Nuvation Bio by 913.2% during 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. Xponance Inc. purchased a new stake in shares of Nuvation Bio during the 2nd quarter valued at $33,000. Finally, Caxton Associates LP purchased a new stake in shares of Nuvation Bio during the 2nd quarter valued at $43,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

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.