Nuvation Bio Inc. (NYSE:NUVB) Given Average Recommendation of “Moderate Buy” by Brokerages

Nuvation Bio Inc. (NYSE:NUVB) has been assigned an average rating of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $11.6250.

Several research firms have weighed in on NUVB. Royal Bank Of Canada lifted their price target on shares of Nuvation Bio from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nuvation Bio in a research note on Thursday, January 22nd. Truist Financial set a $13.00 price target on shares of Nuvation Bio in a research note on Tuesday, January 27th. Wedbush reaffirmed an “outperform” rating and issued a $11.00 price target on shares of Nuvation Bio in a research note on Thursday, April 2nd. Finally, UBS Group decreased their target price 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.

Nuvation Bio Trading Up 0.8%

NUVB opened at $4.48 on Wednesday. Nuvation Bio has a 1-year low of $1.57 and a 1-year high of $9.75. The company has a current ratio of 6.95, a quick ratio of 6.81 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.56 billion, a P/E ratio of -7.47 and a beta of 1.60. The company has a fifty day moving average price of $5.02 and a two-hundred day moving average price of $5.77.

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

Institutional Investors Weigh In On Nuvation Bio

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC bought a new stake in shares of Nuvation Bio during the fourth quarter worth about $2,277,000. Invesco Ltd. increased its position in shares of Nuvation Bio by 138.2% during 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 in the last quarter. Beacon Pointe Advisors LLC increased its position in shares of Nuvation Bio by 60.4% during 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 in the last quarter. NewEdge Advisors LLC bought a new stake in shares of Nuvation Bio during the fourth quarter worth about $8,531,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of Nuvation Bio during the fourth quarter worth about $3,664,000. 61.67% of the stock is owned by institutional investors.

Nuvation Bio Company Profile

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.