Citizens Jmp Issues Positive Forecast for Nuvation Bio (NYSE:NUVB) Stock Price

Nuvation Bio (NYSE:NUVB) had its price target boosted by analysts at Citizens Jmp from $6.00 to $8.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price target would suggest a potential upside of 54.65% from the stock’s current price.

A number of other equities research analysts also recently weighed in on NUVB. Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a research note on Tuesday. JMP Securities set a $8.00 price target on shares of Nuvation Bio in a research report on Tuesday. Royal Bank Of Canada increased their price target on shares of Nuvation Bio from $6.00 to $7.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Nuvation Bio from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $8.43.

Nuvation Bio Trading Down 0.9%

Shares of NUVB opened at $5.17 on Tuesday. The firm’s 50 day simple moving average is $3.68 and its 200 day simple moving average is $2.75. The company has a market capitalization of $1.77 billion, a P/E ratio of -8.21 and a beta of 1.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.39 and a quick ratio of 9.38. Nuvation Bio has a 1-year low of $1.54 and a 1-year high of $5.55.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Monday, November 3rd. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. The business had revenue of $13.12 million for the quarter, compared to the consensus estimate of $7.48 million. Nuvation Bio had a negative net margin of 1,413.43% and a negative return on equity of 46.14%. Sell-side analysts forecast that Nuvation Bio will post -0.36 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Gary Hattersley sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $5.02, for a total value of $502,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 29.93% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Exome Asset Management LLC bought a new stake in Nuvation Bio in the first quarter valued at $170,000. American Century Companies Inc. boosted its holdings in Nuvation Bio by 18.3% in the first quarter. American Century Companies Inc. now owns 486,535 shares of the company’s stock valued at $856,000 after acquiring an additional 75,362 shares in the last quarter. AWM Investment Company Inc. bought a new stake in Nuvation Bio in the first quarter valued at $1,144,000. Hsbc Holdings PLC boosted its holdings in Nuvation Bio by 32.4% in the first quarter. Hsbc Holdings PLC now owns 189,659 shares of the company’s stock valued at $326,000 after acquiring an additional 46,436 shares in the last quarter. Finally, Brighton Jones LLC bought a new stake in Nuvation Bio in the second quarter valued at $120,000. 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.