HC Wainwright Issues Positive Forecast for Nuvation Bio (NYSE:NUVB) Stock Price

Nuvation Bio (NYSE:NUVB) had its price objective lifted by HC Wainwright from $10.00 to $11.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued reports about the company. 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 reaffirmed an “outperform” rating and set a $10.00 price objective (up from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $8.20.

Nuvation Bio Price Performance

NYSE NUVB opened at $2.77 on Thursday. The company’s fifty day moving average is $2.74 and its two-hundred day moving average is $2.80. Nuvation Bio has a 52-week low of $1.52 and a 52-week high of $4.16. The firm has a market capitalization of $930.62 million, a price-to-earnings ratio of -1.27 and a beta of 1.47.

Nuvation Bio (NYSE:NUVB) last released its earnings results 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 during the quarter. As a group, sell-side analysts expect that Nuvation Bio will post -0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nuvation Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Nuvation Bio by 1.4% in the third quarter. FMR LLC now owns 29,238,871 shares of the company’s stock valued at $66,957,000 after acquiring an additional 416,932 shares during the last quarter. State Street Corp raised its position in Nuvation Bio by 4.8% in the 3rd quarter. State Street Corp now owns 4,166,441 shares of the company’s stock valued at $9,541,000 after purchasing an additional 191,031 shares during the last quarter. Geode Capital Management LLC boosted its stake in Nuvation Bio by 5.1% in the third quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company’s stock worth $9,227,000 after purchasing an additional 196,247 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Nuvation Bio by 4.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,394,015 shares of the company’s stock worth $3,192,000 after purchasing an additional 60,590 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. acquired a new stake in shares of Nuvation Bio in the third quarter valued at $2,790,000. 61.67% of the stock is currently 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.