Nuvectis Pharma (NASDAQ:NVCT) Stock Jumps 7.7% – Still a Buy?

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NVCT. Roth Capital raised their target price on Nuvectis Pharma from $20.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Cantor Fitzgerald assumed coverage on shares of Nuvectis Pharma in a research note on Monday, August 24th. They set an “overweight” rating for the company. UBS Group set a $33.00 target price on Nuvectis Pharma in a report on Monday, July 6th. Loop Capital set a $40.00 price objective on shares of Nuvectis Pharma in a research note on Tuesday, September 1st. Finally, Weiss Ratings upgraded Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Nuvectis Pharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.25.

Nuvectis Pharma Stock Performance

The stock has a 50 day moving average price of $21.72 and a two-hundred day moving average price of $16.48. The company has a market capitalization of $607.10 million, a PE ratio of -14.20 and a beta of -0.24.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.04). Sell-side analysts predict that Nuvectis Pharma, Inc. will post -1.01 earnings per share for the current year.

Institutional Trading of Nuvectis Pharma

A number of institutional investors have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. acquired a new position in shares of Nuvectis Pharma during the 2nd quarter worth $5,057,000. Stonepine Capital Management LLC acquired a new stake in shares of Nuvectis Pharma in the 2nd quarter valued at $735,600. Bank of America Corp DE acquired a new stake in shares of Nuvectis Pharma in the 2nd quarter valued at $218,000. Legal & General Group Plc acquired a new stake in shares of Nuvectis Pharma in the 2nd quarter valued at $31,000. Finally, BlackRock Inc. bought a new stake in Nuvectis Pharma in the second quarter worth $18,414,000. 96.77% of the stock is currently owned by institutional investors and hedge funds.

About Nuvectis Pharma

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.