Wedbush Reaffirms “Outperform” Rating for Nuvation Bio (NYSE:NUVB)

Wedbush restated their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a research note published on Monday morning,RTT News reports. The firm currently has a $5.00 target price on the stock.

NUVB has been the topic of a number of other reports. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price objective on shares of Nuvation Bio in a research note on Monday. Royal Bank of Canada lifted their price target on Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $6.60.

Nuvation Bio Price Performance

NYSE:NUVB opened at $2.83 on Monday. The company has a market capitalization of $952.48 million, a price-to-earnings ratio of -1.30 and a beta of 1.47. The business has a 50 day moving average of $2.71 and a 200 day moving average of $2.82. Nuvation Bio has a 1-year low of $1.43 and a 1-year high of $4.16.

Nuvation Bio (NYSE:NUVB) last announced 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. As a group, sell-side analysts anticipate that Nuvation Bio will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Zacks Investment Management grew its stake in shares of Nuvation Bio by 21.5% in the 3rd quarter. Zacks Investment Management now owns 36,125 shares of the company’s stock worth $83,000 after buying 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 worth $76,000 after acquiring an additional 9,603 shares during the last quarter. EverSource Wealth Advisors LLC raised its position 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 worth $32,000 after purchasing an additional 10,000 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Nuvation Bio in the 2nd quarter worth about $29,000. Finally, Xponance Inc. purchased a new stake in Nuvation Bio during the 2nd quarter valued at about $33,000. 61.67% of the stock is currently owned by 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.