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

Wedbush reaffirmed their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a research report released on Monday,RTT News reports. Wedbush currently has a $5.00 price objective on the stock.

Several other equities research analysts also recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. HC Wainwright restated a “buy” rating and set a $7.00 price target on shares of Nuvation Bio in a research note on Monday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Nuvation Bio presently has an average rating of “Buy” and a consensus target price of $6.60.

Nuvation Bio Stock Down 2.1 %

Nuvation Bio stock opened at $2.83 on Monday. The company has a market capitalization of $952.48 million, a P/E ratio of -1.30 and a beta of 1.47. The firm has a 50 day moving average price of $2.71 and a 200-day moving average price of $2.82. Nuvation Bio has a twelve month low of $1.43 and a twelve month high of $4.16.

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

Hedge Funds Weigh In On Nuvation Bio

Several hedge funds have recently bought and sold shares of NUVB. Bank of New York Mellon Corp grew its position in Nuvation Bio by 33.6% during the second quarter. Bank of New York Mellon Corp now owns 626,905 shares of the company’s stock worth $1,831,000 after buying an additional 157,511 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Nuvation Bio during the second quarter worth about $126,000. Principal Financial Group Inc. increased its position in shares of Nuvation Bio by 58.7% in the second quarter. Principal Financial Group Inc. now owns 25,950 shares of the company’s stock worth $76,000 after purchasing an additional 9,603 shares during the last quarter. Rhumbline Advisers raised its stake in Nuvation Bio by 25.7% in the second quarter. Rhumbline Advisers now owns 260,939 shares of the company’s stock valued at $762,000 after purchasing an additional 53,389 shares in the last quarter. Finally, Arizona State Retirement System bought a new stake in Nuvation Bio during the second quarter valued at approximately $110,000. Hedge funds and other institutional investors own 61.67% of the company’s stock.

About Nuvation Bio

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.