HC Wainwright Boosts Earnings Estimates for Nuvation Bio

Nuvation Bio Inc. (NYSE:NUVB) – Equities researchers at HC Wainwright raised their FY2024 earnings per share (EPS) estimates for Nuvation Bio in a research note issued to investors on Monday, January 6th. HC Wainwright analyst R. Burns now forecasts that the company will earn ($0.37) per share for the year, up from their previous forecast of ($0.50). HC Wainwright has a “Buy” rating and a $7.00 price target 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.

Several other analysts also recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $10.00 price target (up previously from $6.00) on shares of Nuvation Bio in a research report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a research note on Monday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $7.40.

Nuvation Bio Stock Down 7.7 %

NYSE:NUVB opened at $3.00 on Thursday. The company has a market capitalization of $1.01 billion, a PE ratio of -1.38 and a beta of 1.47. Nuvation Bio has a 52-week low of $1.43 and a 52-week high of $4.16. The stock’s 50 day moving average price is $2.74 and its 200 day moving average price is $2.82.

Nuvation Bio (NYSE:NUVB) last announced 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 business had revenue of $0.73 million for the quarter.

Institutional Investors Weigh In On Nuvation Bio

Several institutional investors and hedge funds have recently made changes to their positions in NUVB. B. Riley Wealth Advisors Inc. purchased a new stake in Nuvation Bio during the second quarter valued at about $29,000. EverSource Wealth Advisors LLC raised its stake 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 valued at $32,000 after acquiring an additional 10,000 shares during the period. Xponance Inc. purchased a new position in Nuvation Bio in the second quarter valued at about $33,000. Caxton Associates LP acquired a new position in shares of Nuvation Bio during the second quarter worth about $43,000. Finally, Choreo LLC purchased a new stake in shares of Nuvation Bio in the second quarter worth about $47,000. 61.67% of the stock is currently owned by hedge funds and other 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.