Nuvation Bio’s (NUVB) Outperform Rating Reaffirmed at Royal Bank of Canada

Nuvation Bio (NYSE:NUVB)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They currently have a $10.00 price target on the stock, up from their previous price target of $6.00. Royal Bank of Canada’s price target points to a potential upside of 233.33% from the company’s previous close.

A number of other equities analysts also recently issued reports on NUVB. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Nuvation Bio in a research report on Monday. Wedbush reaffirmed an “outperform” rating and set a $5.00 target price on shares of Nuvation Bio in a research report on Monday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $7.40.

Nuvation Bio Trading Down 7.7 %

Shares of NYSE NUVB opened at $3.00 on Tuesday. The stock has a market capitalization of $1.01 billion, a PE ratio of -1.38 and a beta of 1.47. Nuvation Bio has a 12-month low of $1.43 and a 12-month high of $4.16. The stock’s fifty day simple moving average is $2.74 and its two-hundred day simple moving average is $2.82.

Nuvation Bio (NYSE:NUVB) last released its quarterly 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 firm had revenue of $0.73 million for the quarter. On average, equities analysts predict that Nuvation Bio will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nuvation Bio

Hedge funds and other institutional investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Nuvation Bio in the 2nd quarter valued at $29,000. EverSource Wealth Advisors LLC grew its position in Nuvation Bio by 913.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock worth $32,000 after purchasing an additional 10,000 shares during the period. Xponance Inc. acquired a new stake in Nuvation Bio during the 2nd quarter worth about $33,000. Caxton Associates LP purchased a new position in shares of Nuvation Bio during the 2nd quarter valued at about $43,000. Finally, Choreo LLC acquired a new position in shares of Nuvation Bio in the 2nd quarter valued at about $47,000. Institutional investors and hedge funds own 61.67% of the company’s stock.

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.