Nuvectis Pharma (NASDAQ:NVCT) Shares Up 7.7% – What’s Next?

Nuvectis Pharma, Inc. (NASDAQ:NVCT) traded up 7.7% during mid-day trading on Thursday. The company traded as high as $18.96 and last traded at $19.3850. 19,774 shares were traded during trading, a decline of 89% from the average daily volume of 172,867 shares. The stock had previously closed at $18.00.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NVCT shares. Loop Capital set a $40.00 price objective on shares of Nuvectis Pharma in a report on Tuesday, September 1st. UBS Group set a $33.00 target price on shares of Nuvectis Pharma in a research note on Monday, July 6th. Cantor Fitzgerald assumed coverage on Nuvectis Pharma in a report on Monday, August 24th. They set an “overweight” rating on the stock. Lucid Cap Mkts upgraded Nuvectis Pharma to a “strong-buy” rating in a research note on Tuesday, September 1st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Nuvectis Pharma in a report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.25.

Nuvectis Pharma Stock Up 5.9%

The firm has a market capitalization of $622.15 million, a PE ratio of -14.51 and a beta of -0.24. The stock’s fifty day simple moving average is $21.73 and its 200 day simple moving average is $16.38.

Nuvectis Pharma (NASDAQ:NVCT) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.04). On average, analysts predict that Nuvectis Pharma, Inc. will post -1.01 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Nuvectis Pharma in the second quarter worth $18,414,000. Alyeska Investment Group L.P. bought a new position in shares of Nuvectis Pharma during the second quarter worth $5,057,000. Stonepine Capital Management LLC purchased a new position in Nuvectis Pharma during the second quarter valued at $735,600. Bank of New York Mellon Corp purchased a new position in Nuvectis Pharma during the second quarter valued at $676,000. Finally, Deutsche Bank AG bought a new stake in Nuvectis Pharma in the 2nd quarter valued at $310,000. 96.77% of the stock is owned by hedge funds and other institutional investors.

About Nuvectis Pharma

Nuvectis Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing innovative therapies for patients with cancer and other serious unmet medical needs. The company’s research and development programs are centered on novel small-molecule medicines designed to target biological pathways involved in tumor growth and treatment resistance.

Nuvectis’ lead product candidate, NXP800, is an orally administered investigational inhibitor of the heat shock factor 1 pathway. It is being evaluated in clinical studies for advanced solid tumors, including ovarian cancer and other tumor types in which this pathway may play a role.