Nuvation Bio Inc. (NYSE:NUVB) Receives $11.63 Consensus Target Price from Analysts

Nuvation Bio Inc. (NYSE:NUVB) has earned an average rating of “Moderate Buy” from the ten brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $11.6250.

A number of research firms have recently weighed in on NUVB. Royal Bank Of Canada upped their price target on shares of Nuvation Bio from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Thursday, January 22nd. Wedbush reissued an “outperform” rating and set a $11.00 price objective on shares of Nuvation Bio in a report on Tuesday, February 10th. B. Riley Financial began coverage on shares of Nuvation Bio in a research report on Wednesday, November 19th. They set a “buy” rating and a $12.00 target price on the stock. Finally, Truist Financial set a $13.00 target price on shares of Nuvation Bio in a report on Tuesday, January 27th.

Nuvation Bio Stock Down 2.6%

NUVB opened at $4.29 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.95 and a quick ratio of 6.81. Nuvation Bio has a 12 month low of $1.54 and a 12 month high of $9.75. The stock has a market capitalization of $1.47 billion, a P/E ratio of -7.14 and a beta of 1.50. The business has a 50 day simple moving average of $5.57 and a 200-day simple moving average of $5.65.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). The firm had revenue of $41.87 million for the quarter, compared to analyst estimates of $36.82 million. Nuvation Bio had a negative return on equity of 57.48% and a negative net margin of 325.31%. On average, equities analysts anticipate that Nuvation Bio will post -0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nuvation Bio

Several hedge funds have recently bought and sold shares of NUVB. Los Angeles Capital Management LLC purchased a new stake in Nuvation Bio during the 2nd quarter worth about $207,000. Tema Etfs LLC purchased a new position in Nuvation Bio in the 2nd quarter valued at about $272,000. Aisling Capital Management LP lifted its holdings in Nuvation Bio by 16.5% in the 3rd quarter. Aisling Capital Management LP now owns 2,960,659 shares of the company’s stock valued at $10,954,000 after purchasing an additional 419,650 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Nuvation Bio by 16.8% during the 2nd quarter. Geode Capital Management LLC now owns 5,994,798 shares of the company’s stock worth $11,691,000 after purchasing an additional 864,194 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Nuvation Bio by 169.5% during the third quarter. CWM LLC now owns 102,328 shares of the company’s stock worth $379,000 after buying an additional 64,365 shares in the last quarter. 61.67% of the stock is owned by hedge funds and other institutional investors.

Nuvation Bio Company Profile

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company’s pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.