Nuvation Bio (NYSE:NUVB) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Nuvation Bio (NYSE:NUVB) in a research note published on Wednesday, Benzinga reports. They currently have a $8.00 price objective on the stock. HC Wainwright also issued estimates for Nuvation Bio’s Q2 2024 earnings at ($0.07) EPS, Q3 2024 earnings at ($0.08) EPS, Q4 2024 earnings at ($0.08) EPS, FY2024 earnings at ($0.30) EPS, Q1 2025 earnings at ($0.09) EPS, Q2 2025 earnings at ($0.10) EPS, Q3 2025 earnings at ($0.11) EPS, Q4 2025 earnings at ($0.11) EPS and FY2025 earnings at ($0.41) EPS.

Other equities research analysts have also recently issued reports about the stock. BTIG Research raised shares of Nuvation Bio from a neutral rating to a buy rating and set a $5.00 target price on the stock in a report on Tuesday, March 26th. Royal Bank of Canada upped their target price on shares of Nuvation Bio from $4.00 to $5.00 and gave the company an outperform rating in a report on Wednesday, April 17th. Wedbush reaffirmed an outperform rating and issued a $5.00 target price on shares of Nuvation Bio in a report on Wednesday, May 15th. Finally, Jefferies Financial Group raised shares of Nuvation Bio from a hold rating to a buy rating and upped their target price for the company from $1.40 to $10.00 in a report on Wednesday, March 27th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $6.60.

Nuvation Bio Price Performance

Shares of NYSE:NUVB opened at $3.09 on Wednesday. The company’s 50-day moving average price is $3.04 and its two-hundred day moving average price is $2.11. Nuvation Bio has a one year low of $0.95 and a one year high of $4.16.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. As a group, equities analysts predict that Nuvation Bio will post -0.31 EPS for the current year.

Institutional Trading of Nuvation Bio

Large investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its stake in Nuvation Bio by 219.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 738,831 shares of the company’s stock valued at $1,116,000 after purchasing an additional 507,452 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Nuvation Bio by 56.1% in the 3rd quarter. Hsbc Holdings PLC now owns 174,827 shares of the company’s stock valued at $238,000 after purchasing an additional 62,844 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in Nuvation Bio by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 107,843 shares of the company’s stock valued at $163,000 after purchasing an additional 27,346 shares during the last quarter. Acuitas Investments LLC lifted its stake in Nuvation Bio by 45.5% in the 4th quarter. Acuitas Investments LLC now owns 460,471 shares of the company’s stock valued at $661,000 after purchasing an additional 143,972 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in Nuvation Bio by 100.0% in the 3rd quarter. TD Asset Management Inc now owns 105,600 shares of the company’s stock valued at $142,000 after purchasing an additional 52,800 shares during the last quarter. Institutional investors and hedge funds 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.