NuCana (NCNA) Upgraded to Buy at Zacks Investment Research

NuCana (NASDAQ:NCNA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $15.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential downside of 26.86% from the stock’s current price.

According to Zacks, “NuCana PLC is a clinical-stage biopharmaceutical company. It focused on improving treatment outcomes for cancer patients by applying its phosphoramidate chemistry technology. The company’s pipeline of products includes Acelarin, NUC-3373 and NUC-7738 which are in clinical stage. NuCana PLC is based in EDINBURGH, United Kingdom. “

A number of other equities research analysts have also recently commented on the stock. Cowen initiated coverage on shares of NuCana in a research note on Monday, October 23rd. They issued an “outperform” rating on the stock. William Blair initiated coverage on shares of NuCana in a research note on Monday, October 23rd. They issued an “outperform” rating on the stock. Citigroup began coverage on shares of NuCana in a research note on Monday, October 23rd. They issued a “buy” rating and a $23.00 price objective on the stock. Finally, Jefferies Group began coverage on shares of NuCana in a research note on Monday, October 23rd. They set a “buy” rating and a $25.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus target price of $21.00.

Shares of NuCana (NASDAQ NCNA) traded up $6.02 during midday trading on Thursday, reaching $20.51. 956,318 shares of the company were exchanged, compared to its average volume of 57,491. NuCana has a 12-month low of $9.32 and a 12-month high of $25.68.

Several institutional investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. acquired a new stake in shares of NuCana during the 3rd quarter worth about $8,266,000. Perceptive Advisors LLC acquired a new stake in shares of NuCana during the 3rd quarter worth about $3,674,000. Alyeska Investment Group L.P. acquired a new stake in shares of NuCana during the 3rd quarter worth about $2,296,000. Citadel Advisors LLC acquired a new stake in shares of NuCana during the 3rd quarter worth about $1,218,000. Finally, Sphera Funds Management LTD. acquired a new stake in shares of NuCana during the 3rd quarter worth about $919,000. 22.27% of the stock is currently owned by institutional investors.

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NuCana Company Profile

NuCana PLC is a clinical-stage biopharmaceutical company. The Company is focused on improving treatment outcomes for cancer patients by applying its phosphoramidate chemistry technology. The Company utilizes its ProTide technology to develop medicines to overcome cancer resistance mechanisms and generate much higher concentrations of anti-cancer metabolites in cancer cells.

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