Nuvation Bio FY2024 EPS Forecast Increased by HC Wainwright

Nuvation Bio Inc. (NYSE:NUVB) – Equities research analysts at HC Wainwright upped their FY2024 earnings per share estimates for Nuvation Bio in a report issued on Monday, January 6th. HC Wainwright analyst R. Burns now anticipates that the company will post earnings of ($0.37) per share for the year, up from their prior estimate of ($0.50). HC Wainwright has a “Buy” rating and a $7.00 price objective on the stock. The consensus estimate for Nuvation Bio’s current full-year earnings is ($0.40) per share. HC Wainwright also issued estimates for Nuvation Bio’s Q4 2024 earnings at ($0.14) EPS, Q1 2025 earnings at ($0.15) EPS, Q3 2025 earnings at ($0.14) EPS, Q4 2025 earnings at ($0.12) EPS and FY2025 earnings at ($0.56) EPS.

NUVB has been the subject of several other reports. 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 reissued an “outperform” rating and issued a $10.00 price target (up from $6.00) on shares of Nuvation Bio in a report on Tuesday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Nuvation Bio currently has an average rating of “Buy” and a consensus target price of $7.40.

Nuvation Bio Trading Down 7.3 %

NUVB stock opened at $2.79 on Thursday. The firm has a 50 day moving average of $2.76 and a 200-day moving average of $2.82. The company has a market cap of $939.02 million, a price-to-earnings ratio of -1.29 and a beta of 1.47. Nuvation Bio has a 12-month low of $1.43 and a 12-month high of $4.16.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $0.73 million during the quarter.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Zacks Investment Management increased its holdings in Nuvation Bio by 21.5% during the 3rd quarter. Zacks Investment Management now owns 36,125 shares of the company’s stock worth $83,000 after purchasing an additional 6,394 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Nuvation Bio by 58.7% during the second quarter. Principal Financial Group Inc. now owns 25,950 shares of the company’s stock worth $76,000 after buying an additional 9,603 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake 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 worth $32,000 after buying an additional 10,000 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Nuvation Bio in the second quarter valued at $29,000. Finally, Xponance Inc. bought a new position in Nuvation Bio during the 2nd quarter valued at $33,000. 61.67% of the stock is owned by institutional investors and hedge funds.

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.