Nuvectis Pharma (NASDAQ:NVCT) Earns Buy Rating from HC Wainwright

Nuvectis Pharma (NASDAQ:NVCT)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They presently have a $39.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 80.31% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Cantor Fitzgerald initiated coverage on Nuvectis Pharma in a report on Monday, August 24th. They issued an “overweight” rating for the company. Roth Capital lifted their price target on Nuvectis Pharma from $20.00 to $33.00 and gave the company a “buy” rating in a report on Monday, July 6th. UBS Group set a $33.00 price target on Nuvectis Pharma in a report on Monday, July 6th. Weiss Ratings raised Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Finally, Loop Capital set a $40.00 price target on Nuvectis Pharma in a report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Nuvectis Pharma has a consensus rating of “Moderate Buy” and an average target price of $36.25.

Nuvectis Pharma Trading Up 2.7%

Shares of Nuvectis Pharma stock traded up $0.56 during trading on Thursday, reaching $21.63. The company’s stock had a trading volume of 258,188 shares, compared to its average volume of 173,369. The stock has a 50-day moving average price of $21.59 and a two-hundred day moving average price of $15.14. Nuvectis Pharma has a one year low of $5.55 and a one year high of $29.27. The stock has a market capitalization of $706.09 million, a P/E ratio of -16.51 and a beta of -0.26.

Nuvectis Pharma (NASDAQ:NVCT) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.04). As a group, sell-side analysts anticipate that Nuvectis Pharma will post -1.01 EPS for the current fiscal year.

Insider Activity

In other news, CEO Ron Bentsur acquired 12,500 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was purchased at an average cost of $20.00 per share, with a total value of $250,000.00. Following the acquisition, the chief executive officer owned 3,688,424 shares of the company’s stock, valued at $73,768,480. This trade represents a 0.34% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Marlio Charles Mosseri acquired 50,000 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were purchased at an average cost of $18.32 per share, with a total value of $916,000.00. Following the completion of the acquisition, the insider directly owned 3,186,576 shares in the company, valued at approximately $58,378,072.32. The trade was a 1.59% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 28.55% of the company’s stock.

Institutional Trading of Nuvectis Pharma

A number of institutional investors and hedge funds have recently modified their holdings of NVCT. Alyeska Investment Group L.P. bought a new stake in shares of Nuvectis Pharma in the 2nd quarter valued at about $5,057,000. Stonepine Capital Management LLC bought a new stake in shares of Nuvectis Pharma in the 2nd quarter valued at about $735,600. Bank of America Corp DE bought a new stake in shares of Nuvectis Pharma in the 2nd quarter valued at about $218,000. Legal & General Group Plc bought a new stake in shares of Nuvectis Pharma in the 2nd quarter valued at about $31,000. Finally, BlackRock Inc. bought a new stake in shares of Nuvectis Pharma in the 2nd quarter valued at about $18,414,000. 96.77% of the stock is owned by institutional investors.

Nuvectis Pharma Company Profile

Nuvectis Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing innovative treatments for cancer and other serious diseases with limited therapeutic options. The company’s research and development efforts are centered on small-molecule medicines designed to target biological pathways involved in tumor growth and treatment resistance.

Nuvectis’ lead programs include NXP800, an investigational inhibitor of the heat shock factor 1 pathway being evaluated for potential use in selected solid tumors, and NXP900, an investigational inhibitor of the SRC and YES1 protein kinases.