Wedbush Issues Optimistic Forecast for Nuvation Bio Earnings

Nuvation Bio Inc. (NYSE:NUVB) – Analysts at Wedbush lifted their Q3 2024 earnings per share estimates for Nuvation Bio in a report issued on Tuesday, October 22nd. Wedbush analyst D. Nierengarten now forecasts that the company will earn ($0.12) per share for the quarter, up from their previous forecast of ($0.16). 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 ($0.13) EPS, FY2024 earnings at ($0.24) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at ($0.14) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.19) EPS, FY2025 earnings at ($0.62) EPS, FY2026 earnings at ($0.58) EPS and FY2027 earnings at ($0.32) EPS.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The firm had revenue of $1.44 million during the quarter.

A number of other equities research analysts also recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a report on Tuesday, August 6th. HC Wainwright dropped their price objective on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a report on Monday, September 16th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $6.40.

Nuvation Bio Trading Down 3.5 %

NYSE NUVB opened at $2.33 on Thursday. The stock has a 50-day simple moving average of $2.70 and a 200 day simple moving average of $2.95. The company has a market capitalization of $579.48 million, a PE ratio of -1.11 and a beta of 1.36. Nuvation Bio has a 12 month low of $0.95 and a 12 month high of $4.16.

Insider Transactions at Nuvation Bio

In other news, Director Robert Mashal purchased 100,000 shares of Nuvation Bio stock in a transaction dated Tuesday, October 8th. The shares were bought at an average cost of $2.20 per share, with a total value of $220,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares in the company, valued at $220,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.07% of the company’s stock.

Institutional Investors Weigh In On Nuvation Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in NUVB. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Nuvation Bio during the second quarter worth $29,000. EverSource Wealth Advisors LLC raised its holdings in shares of Nuvation Bio by 913.2% during the second quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock worth $32,000 after acquiring an additional 10,000 shares during the period. Xponance Inc. acquired a new stake in shares of Nuvation Bio during the second quarter worth $33,000. Caxton Associates LP acquired a new stake in shares of Nuvation Bio during the second quarter worth $43,000. Finally, Choreo LLC acquired a new stake in shares of Nuvation Bio during the second quarter worth $47,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

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.