Nuvectis Pharma (NASDAQ:NVCT) Issues Earnings Results, Beats Estimates By $0.03 EPS

Nuvectis Pharma (NASDAQ:NVCT) issued its quarterly earnings results on Tuesday. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.03, Zacks reports.

Nuvectis Pharma Stock Down 13.7 %

Shares of NASDAQ:NVCT traded down $1.29 during trading on Tuesday, reaching $8.09. 80,913 shares of the company’s stock traded hands, compared to its average volume of 126,150. The firm has a market cap of $190.85 million, a PE ratio of -7.40 and a beta of -0.11. Nuvectis Pharma has a fifty-two week low of $4.44 and a fifty-two week high of $11.80. The company has a 50-day simple moving average of $8.79 and a 200-day simple moving average of $7.19.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NVCT shares. HC Wainwright reaffirmed a “buy” rating and set a $15.00 target price (up previously from $11.00) on shares of Nuvectis Pharma in a report on Wednesday, April 30th. Maxim Group began coverage on shares of Nuvectis Pharma in a research note on Wednesday, April 2nd. They set a “buy” rating and a $17.00 price objective for the company. Finally, Laidlaw assumed coverage on shares of Nuvectis Pharma in a research note on Monday, March 17th. They issued a “buy” rating and a $19.00 price objective on the stock.

Insider Buying and Selling

In other news, major shareholder Marlio Charles Mosseri bought 240,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were acquired at an average price 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 in the company, valued at $14,420,605. The trade was a 9.08 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 35.78% of the stock is currently owned by insiders.

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.