Nuvectis Pharma (NASDAQ:NVCT) Given New $39.00 Price Target at HC Wainwright

Nuvectis Pharma (NASDAQ:NVCT) had its target price lifted by equities research analysts at HC Wainwright from $13.00 to $39.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 178.57% from the company’s previous close.

Other research analysts also recently issued reports about the company. Wall Street Zen raised Nuvectis Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nuvectis Pharma in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $39.00.

Nuvectis Pharma Stock Up 1.3%

Nuvectis Pharma stock traded up $0.18 during midday trading on Monday, hitting $14.00. 119,421 shares of the stock were exchanged, compared to its average volume of 76,841. The stock has a market capitalization of $371.42 million, a PE ratio of -10.62 and a beta of -0.07. The company has a fifty day simple moving average of $10.03 and a two-hundred day simple moving average of $8.86. Nuvectis Pharma has a 52 week low of $5.55 and a 52 week high of $14.74.

Nuvectis Pharma (NASDAQ:NVCT) last posted its earnings results on Tuesday, May 5th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.04. As a group, equities research analysts anticipate that Nuvectis Pharma will post -1.01 EPS for the current fiscal year.

Institutional Trading of Nuvectis Pharma

Large investors have recently made changes to their positions in the company. Iridian Asset Management LLC CT raised its stake in shares of Nuvectis Pharma by 44.5% in the fourth quarter. Iridian Asset Management LLC CT now owns 586,320 shares of the company’s stock worth $4,427,000 after purchasing an additional 180,699 shares during the last quarter. Occam Crest Management LP lifted its holdings in shares of Nuvectis Pharma by 31.0% in the fourth quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock valued at $2,869,000 after purchasing an additional 90,000 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Nuvectis Pharma by 6.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 73,566 shares of the company’s stock valued at $555,000 after buying an additional 4,500 shares during the last quarter. Baldwin Wealth Partners LLC MA boosted its position in shares of Nuvectis Pharma by 11.2% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 389,625 shares of the company’s stock valued at $2,942,000 after buying an additional 39,164 shares during the last quarter. Finally, Avalon Trust Co bought a new stake in Nuvectis Pharma during the third quarter worth $60,000. Institutional investors and hedge funds own 96.77% of the company’s stock.

About Nuvectis Pharma

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.