Nuvation Bio Inc. (NYSE:NUVB) Receives $8.57 Consensus Price Target from Analysts

Shares of Nuvation Bio Inc. (NYSE:NUVB) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $8.5714.

A number of research analysts have commented on the company. Citizens Jmp boosted their price objective on Nuvation Bio from $6.00 to $8.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 4th. Royal Bank Of Canada raised their target price on Nuvation Bio from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Tuesday, November 4th. JMP Securities set a $8.00 price target on Nuvation Bio in a report on Tuesday, November 4th. Jefferies Financial Group assumed coverage on shares of Nuvation Bio in a research report on Tuesday, September 30th. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Wedbush reiterated an “outperform” rating and set a $6.00 price objective on shares of Nuvation Bio in a research note on Monday, October 13th.

Nuvation Bio Price Performance

NUVB opened at $4.86 on Friday. Nuvation Bio has a 52-week low of $1.54 and a 52-week high of $5.55. The company has a 50 day moving average of $3.98 and a two-hundred day moving average of $2.92. The company has a market cap of $1.67 billion, a P/E ratio of -7.59 and a beta of 1.50. The company has a quick ratio of 8.39, a current ratio of 8.48 and a debt-to-equity ratio of 0.14.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Monday, November 3rd. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01. Nuvation Bio had a negative net margin of 813.07% and a negative return on equity of 54.99%. The business had revenue of $13.12 million for the quarter, compared to analyst estimates of $7.48 million. On average, analysts expect that Nuvation Bio will post -0.36 earnings per share for the current year.

Insider Buying and Selling

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of the business’s stock in a transaction 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 document filed with the SEC, which is available at this link. 29.93% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Millennium Management LLC boosted its holdings in Nuvation Bio by 52.4% in the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock valued at $6,642,000 after purchasing an additional 1,298,131 shares during the last quarter. Two Sigma Investments LP raised its position in shares of Nuvation Bio by 95.7% in the 3rd quarter. Two Sigma Investments LP now owns 2,377,570 shares of the company’s stock valued at $8,797,000 after purchasing an additional 1,162,837 shares in the last quarter. Natixis purchased a new position in shares of Nuvation Bio during the 2nd quarter valued at approximately $1,766,000. Marshall Wace LLP acquired a new stake in shares of Nuvation Bio during the second quarter worth approximately $1,699,000. Finally, Geode Capital Management LLC increased its stake in shares of Nuvation Bio by 16.8% in the second quarter. Geode Capital Management LLC now owns 5,994,798 shares of the company’s stock worth $11,691,000 after buying an additional 864,194 shares during the last quarter. Institutional investors and hedge funds 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.