Nuvation Bio (NYSE:NUVB) PT Raised to $8.00 at HC Wainwright

Nuvation Bio (NYSE:NUVB) had its price target raised by stock analysts at HC Wainwright from $5.00 to $8.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 102.02% from the stock’s previous close.

NUVB has been the subject of a number of other reports. BTIG Research upgraded Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a research note on Tuesday. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a report on Friday, March 1st. Finally, Jefferies Financial Group upgraded Nuvation Bio from a “hold” rating to a “buy” rating and upped their target price for the company from $1.40 to $10.00 in a research report on Wednesday.

Nuvation Bio Stock Performance

Shares of NYSE NUVB opened at $3.96 on Thursday. The business’s 50 day moving average price is $1.97 and its 200-day moving average price is $1.56. Nuvation Bio has a fifty-two week low of $0.95 and a fifty-two week high of $4.06. The company has a market cap of $863.46 million, a price-to-earnings ratio of -11.65 and a beta of 1.19.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. Sell-side analysts predict that Nuvation Bio will post -0.36 earnings per share for the current year.

Institutional Investors Weigh In On Nuvation Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in NUVB. Baupost Group LLC MA raised its holdings in Nuvation Bio by 21.1% in the 1st quarter. Baupost Group LLC MA now owns 10,443,494 shares of the company’s stock valued at $54,933,000 after acquiring an additional 1,820,473 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Nuvation Bio by 14.8% in the 1st quarter. Vanguard Group Inc. now owns 12,932,460 shares of the company’s stock valued at $68,025,000 after purchasing an additional 1,671,908 shares during the last quarter. Prosight Management LP acquired a new stake in shares of Nuvation Bio during the 2nd quarter worth about $1,980,000. Octagon Capital Advisors LP purchased a new stake in shares of Nuvation Bio in the 4th quarter valued at approximately $1,510,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Nuvation Bio by 971.0% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 911,533 shares of the company’s stock worth $2,043,000 after purchasing an additional 826,426 shares during the period. Hedge funds and other institutional investors own 61.67% of the company’s stock.

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.