Nuvectis Pharma (NASDAQ:NVCT) Earns Buy Rating from Analysts at Laidlaw

Laidlaw assumed coverage on shares of Nuvectis Pharma (NASDAQ:NVCT) in a research report sent to investors on Monday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $19.00 price target on the stock.

Separately, HC Wainwright decreased their price objective on Nuvectis Pharma from $21.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, February 25th.

Nuvectis Pharma Trading Down 5.1 %

NASDAQ:NVCT opened at $8.96 on Monday. Nuvectis Pharma has a 52 week low of $4.44 and a 52 week high of $11.80. The firm has a market capitalization of $209.59 million, a PE ratio of -7.72 and a beta of 0.23. The stock has a 50 day moving average of $6.84 and a 200-day moving average of $6.47.

Nuvectis Pharma (NASDAQ:NVCT) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). As a group, analysts predict that Nuvectis Pharma will post -1.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Marlio Charles Mosseri bought 240,000 shares of the business’s stock in a transaction on Friday, February 7th. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $1,200,000.00. Following the completion of the transaction, the insider now directly owns 2,884,121 shares of the company’s stock, valued at approximately $14,420,605. This trade represents a 9.08 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 35.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nuvectis Pharma

Institutional investors and hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of Nuvectis Pharma during the 4th quarter valued at $34,000. Nations Financial Group Inc. IA ADV lifted its position in shares of Nuvectis Pharma by 35.0% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 13,500 shares of the company’s stock valued at $73,000 after acquiring an additional 3,500 shares during the last quarter. Baxter Bros Inc. lifted its position in shares of Nuvectis Pharma by 20.0% during the 4th quarter. Baxter Bros Inc. now owns 15,000 shares of the company’s stock valued at $81,000 after acquiring an additional 2,500 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Nuvectis Pharma during the 4th quarter valued at $103,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Nuvectis Pharma during the 4th quarter valued at $135,000. Institutional investors and hedge funds own 96.77% of the company’s stock.

Nuvectis Pharma Company Profile

Nuvectis Pharma, Inc, a biopharmaceutical company, focuses on the development of precision medicines for the treatment of serious unmet medical needs in oncology. The company's lead product candidate is NXP800, a novel small molecule that is in Phase 1b clinical trials for the treatment of patients with platinum-resistant, ARID1a-mutated ovarian carcinoma.