Wedbush Issues Optimistic Forecast for Nuvation Bio Earnings

Nuvation Bio Inc. (NYSE:NUVB) – Wedbush upped their FY2027 earnings per share (EPS) estimates for shares of Nuvation Bio in a report issued on Wednesday, November 26th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings of $0.00 per share for the year, up from their prior estimate of ($0.23). Wedbush currently has a “Outperform” rating and a $6.00 price objective on the stock. The consensus estimate for Nuvation Bio’s current full-year earnings is ($0.36) per share. Wedbush also issued estimates for Nuvation Bio’s FY2028 earnings at $0.68 EPS.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. The company had revenue of $13.12 million during the quarter, compared to the consensus estimate of $7.48 million. Nuvation Bio had a negative return on equity of 54.99% and a negative net margin of 813.07%.

Other equities analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Nuvation Bio from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Nuvation Bio in a research note on Friday, September 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Wednesday, October 8th. Citigroup reiterated a “market outperform” rating on shares of Nuvation Bio in a report on Tuesday, November 4th. Finally, Truist Financial set a $11.00 price target on Nuvation Bio in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.67.

Nuvation Bio Stock Up 0.5%

Nuvation Bio stock opened at $8.05 on Monday. The firm has a 50 day moving average price of $4.73 and a two-hundred day moving average price of $3.26. The company has a debt-to-equity ratio of 0.14, a quick ratio of 8.39 and a current ratio of 8.48. Nuvation Bio has a 52-week low of $1.54 and a 52-week high of $8.24. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of -12.58 and a beta of 1.57.

Insider Buying and Selling at Nuvation Bio

In related news, insider Dongfang Liu sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $5.10, for a total value of $76,500.00. Following the transaction, the insider owned 18,000 shares of the company’s stock, valued at approximately $91,800. This trade represents a 45.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary Hattersley sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $5.02, for a total value of $502,000.00. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 170,000 shares of company stock worth $877,800. Corporate insiders own 29.93% of the company’s stock.

Hedge Funds Weigh In On Nuvation Bio

Several large investors have recently bought and sold shares of NUVB. CIBC Bancorp USA Inc. bought a new stake in shares of Nuvation Bio in the 3rd quarter worth $98,000. Caitong International Asset Management Co. Ltd boosted its holdings in Nuvation Bio by 811.7% during the third quarter. Caitong International Asset Management Co. Ltd now owns 39,950 shares of the company’s stock worth $148,000 after purchasing an additional 35,568 shares during the last quarter. Connective Capital Management LLC purchased a new position in Nuvation Bio during the third quarter worth about $369,000. Armistice Capital LLC grew its position in Nuvation Bio by 359.2% in the 3rd quarter. Armistice Capital LLC now owns 2,296,000 shares of the company’s stock worth $8,495,000 after purchasing an additional 1,796,000 shares in the last quarter. Finally, Caxton Associates LLP purchased a new stake in Nuvation Bio in the 3rd quarter valued at about $711,000. 61.67% of the stock is currently owned by institutional investors.

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.