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

Nuvation Bio (NYSE:NUVB) had its price objective upped by stock analysts at Royal Bank Of Canada from $7.00 to $8.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 67.43% from the stock’s current price.

Other analysts also recently issued reports about the company. Citizens Jmp increased their price target on Nuvation Bio from $6.00 to $8.00 and gave the company a “market outperform” rating in a research report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $6.00 target price on shares of Nuvation Bio in a research report on Monday, October 13th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Nuvation Bio in a research report on Friday, September 19th. Jefferies Financial Group initiated coverage on shares of Nuvation Bio in a report on Tuesday, September 30th. They set a “buy” rating and a $10.00 price objective for the company. Finally, JMP Securities set a $8.00 price objective on shares of Nuvation Bio in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Nuvation Bio has a consensus rating of “Moderate Buy” and an average target price of $8.57.

Nuvation Bio Stock Down 7.6%

Shares of NUVB stock traded down $0.39 on Tuesday, hitting $4.78. The stock had a trading volume of 10,924,281 shares, compared to its average volume of 5,103,407. The business has a 50 day moving average of $3.68 and a 200 day moving average of $2.75. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -7.56 and a beta of 1.48. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.39 and a quick ratio of 9.38. Nuvation Bio has a 12-month low of $1.54 and a 12-month high of $5.55.

Nuvation Bio (NYSE:NUVB) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.01. The firm had revenue of $13.12 million during the quarter, compared to analyst estimates of $7.48 million. Nuvation Bio had a negative net margin of 1,413.43% and a negative return on equity of 46.14%. As a group, analysts expect that Nuvation Bio will post -0.36 EPS for the current year.

Insiders Place Their Bets

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of Nuvation Bio stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 29.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Nuvation Bio

Several hedge funds have recently bought and sold shares of the company. LCM Capital Management Inc grew its stake in Nuvation Bio by 29.2% during the third quarter. LCM Capital Management Inc now owns 15,500 shares of the company’s stock valued at $57,000 after acquiring an additional 3,500 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Nuvation Bio by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,547 shares of the company’s stock valued at $191,000 after purchasing an additional 4,608 shares in the last quarter. Meridian Wealth Management LLC grew its position in shares of Nuvation Bio by 5.8% during the 2nd quarter. Meridian Wealth Management LLC now owns 87,115 shares of the company’s stock valued at $170,000 after purchasing an additional 4,780 shares in the last quarter. Cresset Asset Management LLC grew its position in shares of Nuvation Bio by 3.5% during the 2nd quarter. Cresset Asset Management LLC now owns 143,690 shares of the company’s stock valued at $280,000 after purchasing an additional 4,874 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of Nuvation Bio by 75.9% during 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. Hedge funds and other institutional investors own 61.67% of the company’s stock.

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.