Nivalis Therapeutics Inc. (NVLS) Lowered to Market Perform at Cowen and Company
Nivalis Therapeutics Inc. (NASDAQ:NVLS) was downgraded by analysts at Cowen and Company from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday.
A number of other brokerages also recently issued reports on NVLS. HC Wainwright restated a “buy” rating on shares of Nivalis Therapeutics in a research note on Monday, August 8th. Zacks Investment Research downgraded Nivalis Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 12th. Raymond James Financial Inc. initiated coverage on Nivalis Therapeutics in a research note on Tuesday, September 13th. They issued an “outperform” rating and a $20.00 price objective for the company. Stifel Nicolaus downgraded Nivalis Therapeutics from a “buy” rating to a “hold” rating and reduced their price objective for the company from $16.00 to $3.25 in a research note on Tuesday. Finally, Robert W. Baird downgraded Nivalis Therapeutics from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $29.00 to $3.00 in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Nivalis Therapeutics presently has an average rating of “Hold” and an average target price of $9.60.
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 company has a 50-day moving average price of $6.46 and a 200-day moving average price of $5.84.
Nivalis Therapeutics (NASDAQ:NVLS) last announced its quarterly earnings results on Monday, November 7th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.59) by $0.11. On average, equities research analysts forecast that Nivalis Therapeutics will post ($2.10) EPS for the current fiscal year.
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In other news, EVP David Malcom Rodman sold 5,820 shares of the stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $7.96, for a total transaction of $46,327.20. Following the completion of the transaction, the executive vice president now owns 18,056 shares in the company, valued at approximately $143,725.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Endurant Capital Management LP boosted 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. bought a new stake in shares of Nivalis Therapeutics during the third quarter worth about $1,664,000. Spark Investment Management LLC bought a new stake in shares of Nivalis Therapeutics during the third quarter worth about $145,000. Bank of New York Mellon Corp boosted 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 bought a new stake in shares of Nivalis Therapeutics during the second quarter worth about $105,000. 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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