Nuvation Bio’s (NUVB) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Nuvation Bio (NYSE:NUVB) in a research note published on Monday,Benzinga reports. The brokerage currently has a $7.00 price objective on the stock.

Several other research firms have also recently weighed in on NUVB. Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Monday, December 23rd. Royal Bank of Canada upped their price objective on shares of Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $7.40.

Nuvation Bio Price Performance

Shares of NUVB opened at $3.00 on Monday. 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 one year low of $1.43 and a one year high of $4.16. The company’s fifty day moving average price is $2.74 and its 200 day moving average price is $2.82.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $0.73 million during the quarter. Analysts anticipate that Nuvation Bio will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On Nuvation Bio

A number of hedge funds have recently made changes to their positions in the business. B. Riley Wealth Advisors Inc. bought a new stake in Nuvation Bio in the second quarter valued at about $29,000. EverSource Wealth Advisors LLC raised its stake in 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 in the last quarter. Xponance Inc. bought a new position in shares of Nuvation Bio during the second quarter valued at $33,000. Caxton Associates LP bought a new stake in shares of Nuvation Bio in the 2nd quarter worth about $43,000. Finally, Choreo LLC acquired a new position in Nuvation Bio in the second quarter valued at about $47,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.