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

Wedbush restated their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a $11.00 target price on the stock.

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

Nuvation Bio Stock Performance

Shares of NUVB stock opened at $4.45 on Thursday. Nuvation Bio has a 12 month low of $1.54 and a 12 month high of $9.75. The firm has a market cap of $1.55 billion, a PE ratio of -7.41 and a beta of 1.60. The company has a quick ratio of 6.81, a current ratio of 6.95 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $5.06 and its 200-day simple moving average is $5.73.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data on Monday, March 2nd. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $41.87 million for the quarter, compared to the consensus estimate of $36.82 million. Nuvation Bio had a negative net margin of 325.31% and a negative return on equity of 57.48%. Equities research analysts expect that Nuvation Bio will post -0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Rangeley Capital LLC purchased a new position in shares of Nuvation Bio during the second quarter valued at approximately $25,000. Parallel Advisors LLC raised its position in Nuvation Bio by 51.9% in the 3rd quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after buying an additional 2,597 shares during the last quarter. Cetera Investment Advisers bought a new position in Nuvation Bio during the 2nd quarter valued at $29,000. Captrust Financial Advisors bought a new stake in shares of Nuvation Bio in the 2nd quarter worth $32,000. Finally, Swiss Life Asset Management Ltd bought a new stake in shares of Nuvation Bio in the 3rd quarter worth $39,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.