Nuvation Bio (NYSE:NUVB) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Nuvation Bio (NYSE:NUVB) in a research report report published on Monday morning,Benzinga reports. They currently have a $7.00 target price on the stock.

NUVB has been the topic of a number of other research reports. Wedbush reiterated an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a report on Monday, December 23rd. Royal Bank of Canada upped their price target on Nuvation Bio from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Nuvation Bio presently has a consensus rating of “Buy” and an average target price of $6.60.

Nuvation Bio Stock Down 2.1 %

NYSE:NUVB opened at $2.83 on Monday. The firm’s fifty day simple moving average is $2.71 and its 200 day simple moving average is $2.82. The stock has a market cap of $952.48 million, a P/E ratio of -1.30 and a beta of 1.47. Nuvation Bio has a twelve month low of $1.43 and a twelve month high of $4.16.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The firm had revenue of $0.73 million for the quarter. On average, analysts expect that Nuvation Bio will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Nuvation Bio

Hedge funds have recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. purchased a new position in shares of Nuvation Bio in the 3rd quarter worth about $2,790,000. Dimensional Fund Advisors LP increased its stake in Nuvation Bio by 415.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock valued at $2,975,000 after purchasing an additional 820,669 shares in the last quarter. Wexford Capital LP raised its holdings in Nuvation Bio by 930.2% in the third quarter. Wexford Capital LP now owns 651,767 shares of the company’s stock worth $1,493,000 after buying an additional 588,500 shares during the last quarter. FMR LLC lifted its stake in shares of Nuvation Bio by 1.4% in the third quarter. FMR LLC now owns 29,238,871 shares of the company’s stock worth $66,957,000 after buying an additional 416,932 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Nuvation Bio by 479.1% in the third quarter. JPMorgan Chase & Co. now owns 442,913 shares of the company’s stock worth $1,014,000 after buying an additional 366,429 shares in the last quarter. 61.67% of the stock is owned by 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.