Nuvectis Pharma (NASDAQ:NVCT) Price Target Raised to $39.00

Nuvectis Pharma (NASDAQ:NVCT) had its price target lifted by analysts at HC Wainwright from $13.00 to $39.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 178.57% from the company’s current price.

NVCT has been the topic of a number of other reports. Wall Street Zen upgraded Nuvectis Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvectis Pharma in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $39.00.

Nuvectis Pharma Trading Up 1.3%

Shares of NVCT traded up $0.18 on Monday, reaching $14.00. 119,421 shares of the company’s stock traded hands, compared to its average volume of 76,841. The stock has a market cap of $371.42 million, a PE ratio of -10.62 and a beta of -0.07. The stock’s 50 day simple moving average is $10.03 and its two-hundred day simple moving average is $8.86. Nuvectis Pharma has a 52-week low of $5.55 and a 52-week high of $14.74.

Nuvectis Pharma (NASDAQ:NVCT) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.04. Analysts forecast that Nuvectis Pharma will post -1.01 earnings per share for the current year.

Institutional Investors Weigh In On Nuvectis Pharma

A number of hedge funds have recently made changes to their positions in NVCT. Bank of America Corp DE increased its stake in shares of Nuvectis Pharma by 10.2% in the first quarter. Bank of America Corp DE now owns 14,847 shares of the company’s stock worth $115,000 after buying an additional 1,377 shares during the period. Occam Crest Management LP raised its holdings in Nuvectis Pharma by 31.0% during the 4th quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock valued at $2,869,000 after buying an additional 90,000 shares during the last quarter. Barclays PLC boosted its position in Nuvectis Pharma by 31.3% during the 4th quarter. Barclays PLC now owns 24,185 shares of the company’s stock valued at $183,000 after buying an additional 5,760 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Nuvectis Pharma by 15.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 44,022 shares of the company’s stock valued at $332,000 after buying an additional 6,040 shares during the period. Finally, State Street Corp boosted its position in Nuvectis Pharma by 13.1% during the 4th quarter. State Street Corp now owns 154,666 shares of the company’s stock valued at $1,168,000 after buying an additional 17,950 shares during the period. 96.77% of the stock is currently owned by institutional investors.

About Nuvectis Pharma

Nuvectis Pharma is a clinical-stage biotechnology company focused on the development of novel peptide-based therapeutics using its proprietary Cellporting delivery platform. The company’s core technology is designed to facilitate the transport of therapeutic proteins and peptides across cellular membranes and into target intracellular compartments, including the nucleus. By overcoming a key barrier in biologics delivery, Nuvectis aims to expand the range of treatable diseases with macromolecular drugs that have traditionally been limited by poor cellular uptake.

The Nuvectis pipeline encompasses multiple preclinical and early-stage clinical programs targeting rare genetic and metabolic disorders.