Nuvation Bio (NYSE:NUVB) Given New $11.00 Price Target at HC Wainwright

Nuvation Bio (NYSE:NUVB) had its price objective upped by research analysts at HC Wainwright from $10.00 to $11.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 315.88% from the stock’s current price.

NUVB has been the topic of several other research reports. Wedbush reiterated an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a report on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $10.00 price objective (up previously from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $8.20.

Nuvation Bio Stock Up 2.5 %

NYSE:NUVB opened at $2.65 on Thursday. Nuvation Bio has a 52 week low of $1.52 and a 52 week high of $4.16. The company has a market capitalization of $890.23 million, a P/E ratio of -1.22 and a beta of 1.47. The stock’s fifty day moving average is $2.74 and its two-hundred day moving average is $2.80.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $0.73 million during the quarter. Sell-side analysts anticipate that Nuvation Bio will post -0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NUVB. B. Riley Wealth Advisors Inc. acquired a new position in Nuvation Bio during the 2nd quarter worth $29,000. EverSource Wealth Advisors LLC increased its holdings in shares of Nuvation Bio by 913.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock valued at $32,000 after acquiring an additional 10,000 shares during the last quarter. Xponance Inc. purchased a new position in shares of Nuvation Bio in the 2nd quarter valued at about $33,000. Caxton Associates LP purchased a new position in shares of Nuvation Bio in the 2nd quarter valued at about $43,000. Finally, Profund Advisors LLC purchased a new position in shares of Nuvation Bio in the 2nd quarter valued at about $63,000. 61.67% of the stock is owned by institutional investors and hedge funds.

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.