Nuvation Bio (NYSE:NUVB) Price Target Raised to $11.00

Nuvation Bio (NYSE:NUVB) had its target price raised by HC Wainwright from $10.00 to $11.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 target price (up from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Wedbush reissued an “outperform” rating and issued a $5.00 price target on shares of Nuvation Bio in a research report on Monday, January 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Nuvation Bio has an average rating of “Buy” and an average target price of $8.20.

Nuvation Bio Stock Performance

Shares of NUVB opened at $2.52 on Thursday. The company has a market capitalization of $846.47 million, a P/E ratio of -1.16 and a beta of 1.47. Nuvation Bio has a fifty-two week low of $1.52 and a fifty-two week high of $4.16. The business’s 50-day moving average is $2.74 and its two-hundred day moving average is $2.79.

Nuvation Bio (NYSE:NUVB) last released its quarterly 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 company had revenue of $0.73 million during the quarter. Analysts forecast that Nuvation Bio will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. purchased a new stake in Nuvation Bio during the second quarter worth approximately $29,000. EverSource Wealth Advisors LLC increased its holdings in Nuvation Bio by 913.2% in the second quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock valued at $32,000 after buying an additional 10,000 shares during the last quarter. Xponance Inc. bought a new position in Nuvation Bio during the second quarter worth $33,000. Caxton Associates LP bought a new position in Nuvation Bio in the second quarter worth about $43,000. Finally, Profund Advisors LLC bought a new position in Nuvation Bio during the 2nd quarter worth $63,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

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.