Nuvation Bio’s (NUVB) Outperform Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a report issued on Friday,Benzinga reports. The firm currently has a $11.00 price target on the stock.

Other equities analysts also recently issued research reports about the stock. UBS Group lowered their target price on shares of Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. HC Wainwright lowered their price objective on Nuvation Bio from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Monday, January 12th. Royal Bank Of Canada raised their target price on Nuvation Bio from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Truist Financial set a $13.00 price target on Nuvation Bio in a report on Tuesday, January 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Thursday, January 22nd. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $11.63.

Nuvation Bio Stock Performance

Shares of NUVB opened at $4.23 on Friday. Nuvation Bio has a 1 year low of $1.54 and a 1 year high of $9.75. The stock has a market capitalization of $1.47 billion, a PE ratio of -7.06 and a beta of 1.49. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.81 and a current ratio of 6.95. The stock has a 50-day simple moving average of $5.21 and a 200-day simple moving average of $5.71.

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

Hedge Funds Weigh In On Nuvation Bio

Hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC increased its position in shares of Nuvation Bio by 51.9% during the third quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock worth $28,000 after purchasing an additional 2,597 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Nuvation Bio in the 4th quarter valued at about $71,000. Swiss Life Asset Management Ltd purchased a new position in Nuvation Bio during the 3rd quarter worth approximately $39,000. Northwest Quadrant Wealth Management LLC purchased a new position in Nuvation Bio during the 3rd quarter worth approximately $40,000. Finally, HBK Sorce Advisory LLC acquired a new position in Nuvation Bio during the third quarter worth approximately $42,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

About Nuvation Bio

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.