Nuvectis Pharma’s (NVCT) “Buy” Rating Reaffirmed at HC Wainwright

Nuvectis Pharma (NASDAQ:NVCT)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $15.00 target price on the stock, up from their previous target price of $11.00. HC Wainwright’s price objective would suggest a potential upside of 55.93% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Laidlaw began coverage on Nuvectis Pharma in a research note on Monday, March 17th. They issued a “buy” rating and a $19.00 price target for the company. Maxim Group began coverage on Nuvectis Pharma in a research report on Wednesday, April 2nd. They issued a “buy” rating and a $17.00 target price for the company.

Nuvectis Pharma Trading Down 3.4 %

Nuvectis Pharma stock opened at $9.62 on Wednesday. Nuvectis Pharma has a 52 week low of $4.44 and a 52 week high of $11.80. The stock has a market cap of $225.03 million, a P/E ratio of -8.29 and a beta of -0.11. The stock has a 50 day moving average of $8.69 and a 200-day moving average of $7.15.

Nuvectis Pharma (NASDAQ:NVCT) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). As a group, equities analysts predict that Nuvectis Pharma will post -1.01 earnings per share for the current fiscal year.

Insider Transactions at Nuvectis Pharma

In related news, major shareholder Marlio Charles Mosseri acquired 240,000 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $1,200,000.00. Following the purchase, the insider now directly owns 2,884,121 shares in the company, valued at $14,420,605. This represents a 9.08 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 35.78% of the company’s stock.

Institutional Investors Weigh In On Nuvectis Pharma

A number of hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. acquired a new stake in shares of Nuvectis Pharma in the 4th quarter worth about $135,000. Baldwin Wealth Partners LLC MA increased its stake in shares of Nuvectis Pharma by 104.4% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 355,961 shares of the company’s stock valued at $1,926,000 after purchasing an additional 181,831 shares during the period. Geode Capital Management LLC raised its holdings in shares of Nuvectis Pharma by 49.8% during the third quarter. Geode Capital Management LLC now owns 79,716 shares of the company’s stock valued at $501,000 after buying an additional 26,489 shares during the last quarter. Baxter Bros Inc. boosted its position in shares of Nuvectis Pharma by 20.0% during the fourth quarter. Baxter Bros Inc. now owns 15,000 shares of the company’s stock worth $81,000 after buying an additional 2,500 shares during the period. Finally, Nations Financial Group Inc. IA ADV grew its holdings in Nuvectis Pharma by 35.0% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 13,500 shares of the company’s stock worth $73,000 after buying an additional 3,500 shares in the last quarter. 96.77% of the stock is currently owned by institutional investors.

About Nuvectis Pharma

Nuvectis Pharma, Inc, a biopharmaceutical company, focuses on the development of precision medicines for the treatment of serious unmet medical needs in oncology. The company's lead product candidate is NXP800, a novel small molecule that is in Phase 1b clinical trials for the treatment of patients with platinum-resistant, ARID1a-mutated ovarian carcinoma.