Nuvation Bio (NYSE:NUVB) Price Target Increased to $8.00 by Analysts at HC Wainwright

Nuvation Bio (NYSE:NUVB) had its price objective boosted by equities researchers at HC Wainwright from $5.00 to $8.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 102.02% from the stock’s previous close.

Several other equities analysts have also recently weighed in on NUVB. Jefferies Financial Group upgraded Nuvation Bio from a “hold” rating to a “buy” rating and raised their price objective for the company from $1.40 to $10.00 in a report on Wednesday. BTIG Research raised Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 price target on the stock in a research report on Tuesday. Finally, Wedbush reiterated an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a research note on Friday, March 1st.

Nuvation Bio Price Performance

Shares of Nuvation Bio stock opened at $3.96 on Thursday. The firm has a market cap of $863.46 million, a price-to-earnings ratio of -11.65 and a beta of 1.19. The stock’s 50-day moving average is $1.97 and its 200-day moving average is $1.56. Nuvation Bio has a one year low of $0.95 and a one year high of $4.06.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. On average, equities analysts expect that Nuvation Bio will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NUVB. Vanguard Group Inc. boosted its position in Nuvation Bio by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 7,314,615 shares of the company’s stock worth $11,045,000 after purchasing an additional 18,457 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Nuvation Bio by 92.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 794,108 shares of the company’s stock worth $1,199,000 after buying an additional 381,555 shares during the period. Octagon Capital Advisors LP acquired a new position in Nuvation Bio in the 4th quarter valued at about $1,510,000. Brevan Howard Capital Management LP bought a new position in Nuvation Bio in the 4th quarter valued at about $49,000. Finally, Royal Bank of Canada lifted its position in Nuvation Bio by 173.0% during the fourth quarter. Royal Bank of Canada now owns 66,895 shares of the company’s stock worth $101,000 after acquiring an additional 42,392 shares during the last quarter. 61.67% of the stock is currently owned by institutional investors.

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.