Nuvation Bio’s (NUVB) “Outperform” Rating Reaffirmed at Wedbush

Nuvation Bio (NYSE:NUVB)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a report issued on Friday,Benzinga reports. They currently have a $11.00 target price on the stock. Wedbush’s price objective indicates a potential upside of 149.72% from the stock’s current price.

NUVB has been the subject of several other reports. UBS Group lowered their target price on Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. HC Wainwright decreased their price objective on Nuvation Bio from $18.00 to $17.00 and set a “buy” rating for the company in a report on Monday, January 12th. Truist Financial set a $13.00 price objective on shares of Nuvation Bio in a research note on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada raised their target price on shares of Nuvation Bio from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.63.

Nuvation Bio Stock Performance

Nuvation Bio stock opened at $4.41 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.81 and a current ratio of 6.95. The company has a market capitalization of $1.53 billion, a PE ratio of -7.34 and a beta of 1.50. The company has a 50 day moving average price of $5.25 and a 200-day moving average price of $5.67. Nuvation Bio has a fifty-two week low of $1.54 and a fifty-two week high of $9.75.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). The company had revenue of $41.87 million for the quarter, compared to analysts’ expectations of $36.82 million. Nuvation Bio had a negative return on equity of 57.48% and a negative net margin of 325.31%. As a group, equities analysts forecast that Nuvation Bio will post -0.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NUVB. Parallel Advisors LLC boosted its position in Nuvation Bio by 51.9% during the third quarter. Parallel Advisors LLC now owns 7,597 shares of the company’s stock valued at $28,000 after purchasing an additional 2,597 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Nuvation Bio in the fourth quarter worth about $71,000. Swiss Life Asset Management Ltd purchased a new stake in shares of Nuvation Bio during the third quarter valued at about $39,000. Northwest Quadrant Wealth Management LLC bought a new stake in shares of Nuvation Bio in the 3rd quarter valued at about $40,000. Finally, HBK Sorce Advisory LLC bought a new stake in shares of Nuvation Bio in the 3rd quarter valued at about $42,000. 61.67% of the stock is owned by institutional investors.

About Nuvation Bio

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company’s pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.