Nuvation Bio’s (NUVB) Outperform Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a report released on Tuesday, Benzinga reports. They currently have a $5.00 price target on the stock. Wedbush also issued estimates for Nuvation Bio’s Q3 2024 earnings at ($0.12) EPS, Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($0.24) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at ($0.14) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.19) EPS, FY2025 earnings at ($0.62) EPS, FY2026 earnings at ($0.58) EPS, FY2027 earnings at ($0.32) EPS and FY2028 earnings at ($0.01) EPS.

A number of other analysts also recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a report on Tuesday, August 6th. HC Wainwright cut their price target on Nuvation Bio from $8.00 to $7.00 and set a “buy” rating for the company in a report on Monday, September 16th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Nuvation Bio has an average rating of “Buy” and a consensus target price of $6.40.

Nuvation Bio Price Performance

Shares of NYSE:NUVB opened at $2.19 on Tuesday. The business’s 50 day moving average price is $2.67 and its 200-day moving average price is $2.93. Nuvation Bio has a 1 year low of $0.95 and a 1 year high of $4.16. The firm has a market capitalization of $541.30 million, a PE ratio of -7.06 and a beta of 1.36.

Nuvation Bio (NYSE:NUVB) last released its earnings results on Monday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.09). The firm had revenue of $1.44 million for the quarter. As a group, analysts expect that Nuvation Bio will post -0.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robert Mashal bought 100,000 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were bought at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the acquisition, the director now directly owns 100,000 shares of the company’s stock, valued at $220,000. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 36.09% of the stock is owned by insiders.

Institutional Investors Weigh In On Nuvation Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Nuvation Bio by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company’s stock worth $27,424,000 after purchasing an additional 219,533 shares during the last quarter. Acadian Asset Management LLC lifted its position in Nuvation Bio by 81.9% in the first quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company’s stock valued at $4,273,000 after buying an additional 528,660 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Nuvation Bio by 551.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock worth $4,932,000 after buying an additional 1,146,794 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Nuvation Bio by 415.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock valued at $2,975,000 after acquiring an additional 820,669 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of Nuvation Bio by 198.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 633,676 shares of the company’s stock valued at $1,850,000 after acquiring an additional 421,563 shares during the period. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Company Profile

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.