Nuvectis Pharma’s (NVCT) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Nuvectis Pharma (NASDAQ:NVCT) in a report released on Thursday morning,Benzinga reports. The brokerage currently has a $39.00 target price on the stock.

Several other equities analysts also recently commented on the stock. Cantor Fitzgerald began coverage on shares of Nuvectis Pharma in a research note on Monday, August 24th. They set an “overweight” rating for the company. Loop Capital set a $40.00 target price on Nuvectis Pharma in a research note on Tuesday, September 1st. UBS Group set a $33.00 target price on Nuvectis Pharma in a research note on Monday, July 6th. Lucid Cap Mkts upgraded Nuvectis Pharma to a “strong-buy” rating in a report on Tuesday, September 1st. Finally, Roth Capital upped their price target on Nuvectis Pharma from $20.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.25.

Nuvectis Pharma Stock Down 6.5%

Shares of NASDAQ NVCT opened at $20.22 on Thursday. Nuvectis Pharma has a 52 week low of $5.55 and a 52 week high of $29.27. The firm’s fifty day moving average is $21.67 and its 200 day moving average is $15.26. The company has a market cap of $659.98 million, a price-to-earnings ratio of -15.44 and a beta of -0.26.

Nuvectis Pharma (NASDAQ:NVCT) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.04). Equities research analysts anticipate that Nuvectis Pharma will post -1.01 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Marlio Charles Mosseri bought 50,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average price of $18.32 per share, with a total value of $916,000.00. Following the transaction, the insider owned 3,186,576 shares of the company’s stock, valued at approximately $58,378,072.32. The trade was a 1.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ron Bentsur bought 12,500 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average cost of $20.00 per share, with a total value of $250,000.00. Following the transaction, the chief executive officer directly owned 3,688,424 shares in the company, valued at approximately $73,768,480. This represents a 0.34% increase in their position. The SEC filing for this purchase provides additional information. 28.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nuvectis Pharma

A number of institutional investors have recently added to or reduced their stakes in NVCT. BlackRock Inc. bought a new stake in shares of Nuvectis Pharma during the 2nd quarter valued at $18,414,000. Occam Crest Management LP increased its stake in shares of Nuvectis Pharma by 31.0% in the 4th quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock worth $2,869,000 after acquiring an additional 90,000 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Nuvectis Pharma in the 2nd quarter worth about $5,057,000. Stonepine Capital Management LLC bought a new position in shares of Nuvectis Pharma in the 2nd quarter worth about $735,600. Finally, Bank of New York Mellon Corp purchased a new position in Nuvectis Pharma during the 2nd quarter valued at about $676,000. Institutional investors own 96.77% of the company’s stock.

About Nuvectis Pharma

Nuvectis Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing innovative treatments for cancer and other serious diseases with limited therapeutic options. The company’s research and development efforts are centered on small-molecule medicines designed to target biological pathways involved in tumor growth and treatment resistance.

Nuvectis’ lead programs include NXP800, an investigational inhibitor of the heat shock factor 1 pathway being evaluated for potential use in selected solid tumors, and NXP900, an investigational inhibitor of the SRC and YES1 protein kinases.