Nuvation Bio Inc. Forecasted to Earn Q2 2024 Earnings of ($0.05) Per Share (NYSE:NUVB)

Nuvation Bio Inc. (NYSE:NUVB) – Analysts at Wedbush increased their Q2 2024 earnings per share estimates for shares of Nuvation Bio in a note issued to investors on Monday, March 25th. Wedbush analyst D. Nierengarten now forecasts that the company will post earnings of ($0.05) per share for the quarter, up from their prior forecast of ($0.07). Wedbush has a “Outperform” rating and a $5.00 price objective on the stock. The consensus estimate for Nuvation Bio’s current full-year earnings is ($0.36) per share. Wedbush also issued estimates for Nuvation Bio’s Q3 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.30) EPS, FY2025 earnings at ($0.44) EPS, FY2026 earnings at ($0.49) EPS and FY2027 earnings at ($0.40) EPS.

A number of other brokerages have also commented on NUVB. BTIG Research upgraded shares of Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a research note on Tuesday. Jefferies Financial Group upgraded shares of Nuvation Bio from a “hold” rating to a “buy” rating and boosted their target price for the stock from $1.40 to $10.00 in a report on Wednesday. Finally, HC Wainwright boosted their target price on shares of Nuvation Bio from $5.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday.

Nuvation Bio Stock Performance

NUVB stock opened at $3.96 on Thursday. The firm has a 50 day moving average price of $1.97 and a 200-day moving average price of $1.56. The firm has a market capitalization of $863.46 million, a price-to-earnings ratio of -11.65 and a beta of 1.19. Nuvation Bio has a 52-week low of $0.95 and a 52-week high of $4.06.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Clarius Group LLC acquired a new stake in Nuvation Bio in the third quarter valued at approximately $26,000. Centiva Capital LP purchased a new position in Nuvation Bio in the fourth quarter valued at about $26,000. Royal Bank of Canada increased its position in Nuvation Bio by 133.4% during the second quarter. Royal Bank of Canada now owns 15,199 shares of the company’s stock worth $27,000 after buying an additional 8,687 shares in the last quarter. Virtu Financial LLC acquired a new position in Nuvation Bio in the fourth quarter valued at $31,000. Finally, Beacon Pointe Advisors LLC acquired a new position in Nuvation Bio during the fourth quarter valued at approximately $33,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

Nuvation Bio Company Profile

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.