Nuvation Bio (NYSE:NUVB) Price Target Raised to $8.00

Nuvation Bio (NYSE:NUVB) had its target price upped by Citizens Jmp from $6.00 to $8.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other brokerages also recently commented on NUVB. JMP Securities set a $8.00 target price on shares of Nuvation Bio in a research note on Tuesday. Royal Bank Of Canada upped their price objective on Nuvation Bio from $6.00 to $7.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Citigroup reissued a “market outperform” rating on shares of Nuvation Bio in a research report on Tuesday. Wedbush reiterated an “outperform” rating and issued a $6.00 price target on shares of Nuvation Bio in a research note on Monday, October 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.57.

Nuvation Bio Stock Performance

Shares of NUVB opened at $5.00 on Tuesday. Nuvation Bio has a 1 year low of $1.54 and a 1 year high of $5.55. The stock has a market capitalization of $1.71 billion, a PE ratio of -7.80 and a beta of 1.50. The company has a debt-to-equity ratio of 0.14, a quick ratio of 9.38 and a current ratio of 8.48. The stock has a 50-day simple moving average of $3.80 and a 200-day simple moving average of $2.80.

Nuvation Bio (NYSE:NUVB) last released its earnings results on Monday, November 3rd. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $13.12 million for the quarter, compared to analyst estimates of $7.48 million. On average, analysts predict that Nuvation Bio will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $5.02, for a total transaction of $502,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 29.93% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nuvation Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. HBK Sorce Advisory LLC acquired a new stake in shares of Nuvation Bio in the 3rd quarter worth $42,000. Federated Hermes Inc. boosted its holdings in Nuvation Bio by 75.9% in the 3rd quarter. Federated Hermes Inc. now owns 11,630 shares of the company’s stock valued at $43,000 after purchasing an additional 5,020 shares in the last quarter. Highline Wealth Partners LLC acquired a new position in Nuvation Bio during the 2nd quarter worth approximately $25,000. Rangeley Capital LLC purchased a new position in shares of Nuvation Bio during the 2nd quarter worth approximately $25,000. Finally, Merit Financial Group LLC acquired a new stake in shares of Nuvation Bio in the 3rd quarter valued at approximately $55,000. 61.67% of the stock is currently owned by hedge funds and other 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.