Nuvation Bio (NYSE:NUVB) Receives Outperform Rating from Wedbush

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

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

Nuvation Bio Price Performance

NYSE:NUVB opened at $4.23 on Friday. Nuvation Bio has a 52 week low of $1.54 and a 52 week high of $9.75. The stock’s fifty day moving average is $5.21 and its two-hundred day moving average is $5.68. The company has a market capitalization of $1.47 billion, a P/E ratio of -7.06 and a beta of 1.50. The company has a quick ratio of 6.81, a current ratio of 6.95 and a debt-to-equity ratio of 0.15.

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

Institutional Investors Weigh In On Nuvation Bio

A number of hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LLC purchased a new position in shares of Nuvation Bio in the 4th quarter valued at about $2,277,000. Invesco Ltd. lifted its stake in Nuvation Bio by 138.2% in the fourth quarter. Invesco Ltd. now owns 1,185,143 shares of the company’s stock worth $10,619,000 after acquiring an additional 687,597 shares during the last quarter. Beacon Pointe Advisors LLC lifted its stake in Nuvation Bio by 60.4% in the fourth quarter. Beacon Pointe Advisors LLC now owns 259,212 shares of the company’s stock worth $2,323,000 after acquiring an additional 97,612 shares during the last quarter. NewEdge Advisors LLC acquired a new position in Nuvation Bio during the 4th quarter worth approximately $8,531,000. Finally, Voloridge Investment Management LLC acquired a new position in Nuvation Bio during the 4th quarter worth approximately $3,664,000. Institutional investors and hedge funds 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.