Nuvation Bio’s (NUVB) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Nuvation Bio (NYSE:NUVB) in a report released on Monday,Benzinga reports. HC Wainwright currently has a $7.00 price target on the stock.

A number of other equities analysts also recently issued reports on NUVB. Royal Bank of Canada raised 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. Wedbush reissued an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research report on Monday, December 23rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $6.60.

Nuvation Bio Stock Performance

NUVB opened at $2.83 on Monday. The company’s 50-day simple moving average is $2.71 and its two-hundred day simple moving average is $2.82. The stock has a market capitalization of $952.48 million, a P/E ratio of -1.30 and a beta of 1.47. Nuvation Bio has a 52-week low of $1.43 and a 52-week high of $4.16.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The company had revenue of $0.73 million for the quarter. Research analysts forecast that Nuvation Bio will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Nuvation Bio

Institutional investors have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. bought a new stake in Nuvation Bio during the second quarter valued at about $29,000. EverSource Wealth Advisors LLC lifted its position 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 in the last quarter. Xponance Inc. bought a new position in shares of Nuvation Bio during the 2nd quarter valued at approximately $33,000. Caxton Associates LP purchased a new stake in Nuvation Bio in the 2nd quarter worth approximately $43,000. Finally, Choreo LLC bought a new stake in Nuvation Bio during the 2nd quarter worth approximately $47,000. 61.67% of the stock is owned by institutional investors.

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.