What is Wedbush’s Forecast for Nuvation Bio FY2024 Earnings?

Nuvation Bio Inc. (NYSE:NUVB) – Stock analysts at Wedbush lowered their FY2024 earnings estimates for Nuvation Bio in a report issued on Thursday, November 7th. Wedbush analyst D. Nierengarten now anticipates that the company will post earnings per share of ($0.35) for the year, down from their prior forecast of ($0.24). Wedbush currently has a “Outperform” rating and a $5.00 target price 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 ($0.12) EPS, Q2 2025 earnings at ($0.13) EPS, FY2025 earnings at ($0.61) EPS, FY2026 earnings at ($0.60) EPS, FY2027 earnings at ($0.34) EPS and FY2028 earnings at ($0.03) EPS.

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 analysts’ consensus estimates of ($0.13) by ($0.02). The firm had revenue of $0.73 million for the quarter.

Several other research firms have also recently weighed in on NUVB. HC Wainwright cut their price target on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada boosted their price target on shares of Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $6.60.

Nuvation Bio Stock Performance

Nuvation Bio stock opened at $2.94 on Monday. Nuvation Bio has a fifty-two week low of $1.21 and a fifty-two week high of $4.16. The stock has a market cap of $731.53 million, a PE ratio of -1.34 and a beta of 1.35. The firm’s 50-day simple moving average is $2.55 and its 200 day simple moving average is $2.91.

Insiders Place Their Bets

In related news, Director Robert Mashal acquired 100,000 shares of the stock in a transaction on Tuesday, October 8th. The shares were acquired at an average price of $2.20 per share, with a total value of $220,000.00. Following the completion of the transaction, the director now owns 100,000 shares in the company, valued at approximately $220,000. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.07% of the company’s stock.

Institutional Trading of Nuvation Bio

Several hedge funds and other institutional investors have recently modified their holdings of NUVB. B. Riley Wealth Advisors Inc. bought a new stake in shares of Nuvation Bio in the second quarter valued at approximately $29,000. EverSource Wealth Advisors LLC raised its position in shares of Nuvation Bio by 913.2% in the second quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock valued at $32,000 after purchasing an additional 10,000 shares during the period. Xponance Inc. bought a new stake in shares of Nuvation Bio in the second quarter valued at approximately $33,000. Caxton Associates LP bought a new stake in shares of Nuvation Bio in the second quarter valued at approximately $43,000. Finally, Choreo LLC bought a new stake in shares of Nuvation Bio in the second quarter valued at approximately $47,000. Institutional investors 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.