Nuvation Bio (NYSE:NUVB) Price Target Raised to $5.00

Nuvation Bio (NYSE:NUVB) had its price objective lifted by Royal Bank of Canada from $4.00 to $5.00 in a report published on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other analysts also recently commented on NUVB. Wedbush restated an outperform rating and set a $5.00 target price on shares of Nuvation Bio in a report on Friday, March 1st. BTIG Research upgraded shares of Nuvation Bio from a neutral rating to a buy rating and set a $5.00 target price on the stock in a report on Tuesday, March 26th. Jefferies Financial Group upgraded shares of Nuvation Bio from a hold rating to a buy rating and raised their target price for the stock from $1.40 to $10.00 in a report on Wednesday, March 27th. Finally, HC Wainwright raised their target price on shares of Nuvation Bio from $5.00 to $8.00 and gave the stock a buy rating in a report on Thursday, March 28th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Nuvation Bio currently has an average rating of Buy and a consensus target price of $6.60.

Nuvation Bio Stock Performance

Shares of NYSE:NUVB opened at $2.58 on Wednesday. The firm’s 50 day simple moving average is $2.49 and its 200 day simple moving average is $1.77. Nuvation Bio has a fifty-two week low of $0.95 and a fifty-two week high of $4.16.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Sell-side analysts predict that Nuvation Bio will post -0.35 EPS for the current year.

Hedge Funds Weigh In On Nuvation Bio

Hedge funds have recently made changes to their positions in the business. Centiva Capital LP bought a new position in shares of Nuvation Bio during the 4th quarter worth approximately $26,000. Quantbot Technologies LP grew its stake in shares of Nuvation Bio by 147.7% during the 1st quarter. Quantbot Technologies LP now owns 13,383 shares of the company’s stock worth $70,000 after acquiring an additional 7,981 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Nuvation Bio by 133.4% during the 2nd quarter. Royal Bank of Canada now owns 15,199 shares of the company’s stock worth $27,000 after acquiring an additional 8,687 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Nuvation Bio in the fourth quarter valued at $31,000. Finally, Raymond James & Associates grew its stake in shares of Nuvation Bio by 28.9% in the first quarter. Raymond James & Associates now owns 16,060 shares of the company’s stock valued at $84,000 after buying an additional 3,600 shares in the last quarter. 61.67% of the stock is 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.