Brokerages Set Nuvectis Pharma, Inc. (NASDAQ:NVCT) PT at $36.25

Nuvectis Pharma, Inc. (NASDAQ:NVCT) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $36.25.

A number of research analysts recently commented on the company. UBS Group set a $33.00 price objective on Nuvectis Pharma in a report on Monday, July 6th. HC Wainwright lifted their target price on Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Cantor Fitzgerald began coverage on Nuvectis Pharma in a research note on Monday, August 24th. They issued an “overweight” rating on the stock. Weiss Ratings cut Nuvectis Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, September 4th. Finally, Loop Capital set a $40.00 price objective on Nuvectis Pharma in a research report on Tuesday, September 1st.

Insider Activity

In related news, major shareholder Marlio Charles Mosseri acquired 50,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average cost of $18.32 per share, for a total transaction of $916,000.00. Following the acquisition, the insider owned 3,186,576 shares in the company, valued at $58,378,072.32. The trade was a 1.59% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ron Bentsur acquired 12,500 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were bought at an average cost of $20.00 per share, with a total value of $250,000.00. Following the transaction, the chief executive officer directly owned 3,688,424 shares in the company, valued at $73,768,480. This trade represents a 0.34% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 28.55% of the company’s stock.

Institutional Trading of Nuvectis Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVCT. California State Teachers Retirement System lifted its stake in Nuvectis Pharma by 376.8% during the second quarter. California State Teachers Retirement System now owns 3,991 shares of the company’s stock worth $73,000 after purchasing an additional 3,154 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Nuvectis Pharma in the second quarter valued at $5,057,000. Stonepine Capital Management LLC acquired a new stake in shares of Nuvectis Pharma in the second quarter valued at $735,600. Bank of America Corp DE purchased a new stake in shares of Nuvectis Pharma in the 2nd quarter valued at $218,000. Finally, Legal & General Group Plc purchased a new stake in shares of Nuvectis Pharma in the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 96.77% of the company’s stock.

Nuvectis Pharma Trading Down 1.3%

Nuvectis Pharma stock opened at $22.49 on Friday. The company has a 50-day moving average price of $20.99 and a 200 day moving average price of $14.29. Nuvectis Pharma has a 12-month low of $5.55 and a 12-month high of $29.27. The stock has a market cap of $734.07 million, a P/E ratio of -17.17 and a beta of -0.26.

Nuvectis Pharma (NASDAQ:NVCT) last posted its 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). As a group, analysts forecast that Nuvectis Pharma will post -1.01 EPS for the current year.

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.