Nuvectis Pharma (NASDAQ:NVCT) Upgraded by Lucid Cap Mkts to “Strong-Buy” Rating

Lucid Cap Mkts upgraded shares of Nuvectis Pharma (NASDAQ:NVCT) to a strong-buy rating in a research report sent to investors on Tuesday,Zacks reports.

A number of other brokerages also recently weighed in on NVCT. Roth Capital boosted their target price on shares of Nuvectis Pharma from $20.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Wall Street Zen upgraded Nuvectis Pharma from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. UBS Group set a $33.00 price target on Nuvectis Pharma in a research report on Monday, July 6th. Weiss Ratings raised Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 20th. Finally, Cantor Fitzgerald assumed coverage on Nuvectis Pharma in a research note on Monday, August 24th. They set an “overweight” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.25.

Nuvectis Pharma Stock Up 1.9%

NVCT stock opened at $24.37 on Tuesday. The business has a 50 day moving average price of $20.89 and a two-hundred day moving average price of $13.76. The company has a market cap of $795.44 million, a price-to-earnings ratio of -18.60 and a beta of -0.26. Nuvectis Pharma has a twelve month low of $5.55 and a twelve month high of $29.27.

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

Insider Buying and Selling at Nuvectis Pharma

In other Nuvectis Pharma news, major shareholder Marlio Charles Mosseri bought 50,000 shares of Nuvectis Pharma stock in a transaction on Tuesday, June 30th. The shares were purchased at an average price of $18.32 per share, with a total value of $916,000.00. Following the acquisition, the insider owned 3,186,576 shares in the company, valued at $58,378,072.32. This trade represents a 1.59% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ron Bentsur purchased 12,500 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $250,000.00. Following the purchase, the chief executive officer owned 3,688,424 shares in the company, valued at approximately $73,768,480. The trade was a 0.34% increase in their position. The disclosure for this purchase is available in the SEC filing. 28.55% of the stock is 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. Alyeska Investment Group L.P. bought a new stake in shares of Nuvectis Pharma during the second quarter worth $5,057,000. Stonepine Capital Management LLC bought a new stake in shares of Nuvectis Pharma during the second quarter worth about $735,600. BlackRock Inc. bought a new position in shares of Nuvectis Pharma in the second quarter valued at approximately $18,414,000. Occam Crest Management LP raised its position in Nuvectis Pharma by 31.0% in the 4th quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock valued at $2,869,000 after buying an additional 90,000 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Nuvectis Pharma in the 2nd quarter worth $218,000. 96.77% of the stock is currently owned by institutional investors and hedge funds.

Nuvectis Pharma Company Profile

Nuvectis Pharma is a clinical-stage biotechnology company focused on the development of novel peptide-based therapeutics using its proprietary Cellporting delivery platform. The company’s core technology is designed to facilitate the transport of therapeutic proteins and peptides across cellular membranes and into target intracellular compartments, including the nucleus. By overcoming a key barrier in biologics delivery, Nuvectis aims to expand the range of treatable diseases with macromolecular drugs that have traditionally been limited by poor cellular uptake.

The Nuvectis pipeline encompasses multiple preclinical and early-stage clinical programs targeting rare genetic and metabolic disorders.