Nuvation Bio (NYSE:NUVB) Raised to “Buy” at BTIG Research

BTIG Research upgraded shares of Nuvation Bio (NYSE:NUVB) from a neutral rating to a buy rating in a report released on Tuesday morning, Marketbeat.com reports. They currently have $5.00 price objective on the stock.

Several other research firms have also recently commented on NUVB. HC Wainwright boosted their target price on Nuvation Bio from $4.50 to $5.00 and gave the stock a buy rating in a research note on Thursday, March 7th. Wedbush restated an outperform rating and set a $5.00 target price on shares of Nuvation Bio in a research note on Friday, March 1st.

Nuvation Bio Price Performance

NYSE NUVB opened at $3.64 on Tuesday. The company has a market cap of $793.69 million, a P/E ratio of -10.71 and a beta of 1.19. The stock has a 50-day moving average of $2.01 and a two-hundred day moving average of $1.57. Nuvation Bio has a 1-year low of $0.95 and a 1-year high of $4.16.

Nuvation Bio (NYSE:NUVB) last released its earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. On average, analysts anticipate that Nuvation Bio will post -0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Nuvation Bio

Several large investors have recently bought and sold shares of the business. Jane Street Group LLC increased its holdings in Nuvation Bio by 14.4% in the first quarter. Jane Street Group LLC now owns 24,362 shares of the company’s stock valued at $128,000 after buying an additional 3,070 shares during the last quarter. Raymond James & Associates boosted its stake in Nuvation Bio by 28.9% in the first quarter. Raymond James & Associates now owns 16,060 shares of the company’s stock valued at $84,000 after acquiring an additional 3,600 shares in the last quarter. ProShare Advisors LLC boosted its stake in Nuvation Bio by 38.3% in the second quarter. ProShare Advisors LLC now owns 18,946 shares of the company’s stock valued at $34,000 after acquiring an additional 5,246 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Nuvation Bio by 8.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 83,090 shares of the company’s stock valued at $159,000 after acquiring an additional 6,133 shares in the last quarter. Finally, Credit Suisse AG boosted its stake in Nuvation Bio by 9.3% in the second quarter. Credit Suisse AG now owns 83,884 shares of the company’s stock valued at $271,000 after acquiring an additional 7,115 shares in the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.

About Nuvation Bio

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.