Nuvectis Pharma (NASDAQ:NVCT) Stock Jumps 7.7% – What’s Next?

Nuvectis Pharma, Inc. (NASDAQ:NVCT) shares shot up 7.7% on Thursday. The company traded as high as $18.96 and last traded at $19.3850. 19,774 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 172,867 shares. The stock had previously closed at $18.00.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NVCT shares. HC Wainwright reiterated a “buy” rating and set a $39.00 target price on shares of Nuvectis Pharma in a report on Thursday, September 24th. Lucid Cap Mkts raised Nuvectis Pharma to a “strong-buy” rating in a research report on Tuesday, September 1st. Loop Capital set a $40.00 price target on Nuvectis Pharma in a research note on Tuesday, September 1st. Cantor Fitzgerald assumed coverage on Nuvectis Pharma in a research report on Monday, August 24th. They set an “overweight” rating for the company. Finally, UBS Group set a $33.00 price objective on Nuvectis Pharma in a research report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.25.

Nuvectis Pharma Stock Performance

The stock has a market cap of $622.15 million, a PE ratio of -14.51 and a beta of -0.24. The firm has a 50-day moving average price of $21.73 and a 200-day moving average price of $16.38.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.04). As a group, sell-side analysts anticipate that Nuvectis Pharma, Inc. will post -1.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Nuvectis Pharma

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. bought a new position in Nuvectis Pharma in the 2nd quarter valued at approximately $5,057,000. Stonepine Capital Management LLC bought a new stake in shares of Nuvectis Pharma in the 2nd quarter worth $735,600. Bank of America Corp DE bought a new stake in shares of Nuvectis Pharma in the 2nd quarter worth $218,000. Legal & General Group Plc bought a new stake in shares of Nuvectis Pharma in the 2nd quarter worth $31,000. Finally, BlackRock Inc. purchased a new position in shares of Nuvectis Pharma in the second quarter worth $18,414,000. Institutional investors own 96.77% of the company’s stock.

Nuvectis Pharma Company Profile

Nuvectis Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing innovative therapies for patients with cancer and other serious unmet medical needs. The company’s research and development programs are centered on novel small-molecule medicines designed to target biological pathways involved in tumor growth and treatment resistance.

Nuvectis’ lead product candidate, NXP800, is an orally administered investigational inhibitor of the heat shock factor 1 pathway. It is being evaluated in clinical studies for advanced solid tumors, including ovarian cancer and other tumor types in which this pathway may play a role.