HC Wainwright Predicts Stronger Earnings for Nuvation Bio

Nuvation Bio Inc. (NYSE:NUVB) – Stock analysts at HC Wainwright increased their FY2024 earnings per share (EPS) estimates for Nuvation Bio in a note issued to investors on Monday, January 6th. HC Wainwright analyst R. Burns now forecasts that the company will post earnings of ($0.37) per share for the year, up from their prior forecast of ($0.50). HC Wainwright has a “Buy” rating and a $7.00 price target on the stock. The consensus estimate for Nuvation Bio’s current full-year earnings is ($0.40) per share. HC Wainwright also issued estimates for Nuvation Bio’s Q4 2024 earnings at ($0.14) EPS, Q1 2025 earnings at ($0.15) EPS, Q3 2025 earnings at ($0.14) EPS, Q4 2025 earnings at ($0.12) EPS and FY2025 earnings at ($0.56) EPS.

Other analysts also recently issued reports about the company. Royal Bank of Canada reiterated an “outperform” rating and set a $10.00 price target (up from $6.00) on shares of Nuvation Bio in a report on Tuesday. Wedbush reiterated an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a report on Monday. 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 $7.40.

Nuvation Bio Trading Down 7.7 %

Shares of NUVB opened at $3.00 on Thursday. The stock’s 50-day moving average price is $2.75 and its two-hundred day moving average price is $2.83. Nuvation Bio has a 12 month low of $1.43 and a 12 month high of $4.16. The company has a market capitalization of $1.01 billion, a PE ratio of -1.38 and a beta of 1.47.

Nuvation Bio (NYSE:NUVB) last issued 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 business had revenue of $0.73 million for the quarter.

Institutional Investors Weigh In On Nuvation Bio

Hedge funds have recently made changes to their positions in the business. State Street Corp grew its holdings in Nuvation Bio by 4.8% during the third quarter. State Street Corp now owns 4,166,441 shares of the company’s stock valued at $9,541,000 after purchasing an additional 191,031 shares during the period. Wellington Management Group LLP increased its holdings in Nuvation Bio by 83.3% in the 3rd quarter. Wellington Management Group LLP now owns 623,973 shares of the company’s stock worth $1,429,000 after acquiring an additional 283,642 shares during the last quarter. Geode Capital Management LLC raised its stake in Nuvation Bio by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company’s stock valued at $9,227,000 after acquiring an additional 196,247 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Nuvation Bio by 415.2% during the second 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 during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Nuvation Bio during the third quarter worth about $634,000. 61.67% of the stock is currently 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.