Nivalis Therapeutics Inc. (NVLS) Cut to Hold at Stifel Nicolaus
Nivalis Therapeutics Inc. (NASDAQ:NVLS) was downgraded by equities researchers at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued on Tuesday. They presently have a $3.25 price target on the stock, down from their previous price target of $16.00. Stifel Nicolaus’ target price points to a potential downside of 48.00% from the stock’s current price.
Several other research firms have also commented on NVLS. Raymond James Financial Inc. began coverage on shares of Nivalis Therapeutics in a research report on Tuesday, September 13th. They issued an “outperform” rating and a $20.00 price target on the stock. Zacks Investment Research upgraded shares of Nivalis Therapeutics from a “sell” rating to a “buy” rating and set a $8.50 price target on the stock in a research report on Thursday, October 20th. Piper Jaffray Cos. reiterated a “buy” rating and issued a $16.00 price target on shares of Nivalis Therapeutics in a research report on Tuesday, August 30th. HC Wainwright restated a “buy” rating on shares of Nivalis Therapeutics in a research report on Monday, August 8th. Finally, Cowen and Company restated a “buy” rating on shares of Nivalis Therapeutics in a research report on Monday, August 1st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $11.25.
Nivalis Therapeutics (NASDAQ:NVLS) opened at 6.25 on Tuesday. Nivalis Therapeutics has a 1-year low of $3.68 and a 1-year high of $9.45. The firm’s market cap is $97.14 million. The firm has a 50 day moving average of $6.46 and a 200 day moving average of $5.84.
Nivalis Therapeutics (NASDAQ:NVLS) last released its quarterly earnings results on Monday, November 7th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.11. On average, equities research analysts expect that Nivalis Therapeutics will post ($2.10) EPS for the current year.
In related news, EVP David Malcom Rodman sold 5,820 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $7.96, for a total transaction of $46,327.20. Following the sale, the executive vice president now owns 18,056 shares in the company, valued at $143,725.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in NVLS. Endurant Capital Management LP raised its stake in shares of Nivalis Therapeutics by 29.8% in the third quarter. Endurant Capital Management LP now owns 85,412 shares of the company’s stock worth $694,000 after buying an additional 19,629 shares during the period. Sphera Funds Management LTD. purchased a new stake in shares of Nivalis Therapeutics during the third quarter worth about $1,664,000. Spark Investment Management LLC purchased a new stake in shares of Nivalis Therapeutics during the third quarter worth about $145,000. Bank of New York Mellon Corp raised its stake in shares of Nivalis Therapeutics by 7.8% in the third quarter. Bank of New York Mellon Corp now owns 16,494 shares of the company’s stock worth $134,000 after buying an additional 1,189 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in shares of Nivalis Therapeutics during the second quarter worth about $105,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.
About Nivalis Therapeutics
Nivalis Therapeutics, Inc is a clinical-stage pharmaceutical company. The Company discovers, develops and commercializes product candidates for patients with cystic fibrosis (CF). It focuses on utilizing its S-nitrosoglutathione reductase (GSNOR) inhibitor portfolio to develop therapeutics for other diseases.
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