Nuvation Bio (NYSE:NUVB) Price Target Raised to $11.00 at HC Wainwright

Nuvation Bio (NYSE:NUVB) had its target price hoisted by HC Wainwright from $10.00 to $11.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on NUVB. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $10.00 price objective (up from $6.00) on shares of Nuvation Bio in a research note on Tuesday, January 7th. Wedbush reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Nuvation Bio in a research note on Monday, January 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $8.20.

Nuvation Bio Stock Up 4.3 %

NUVB stock opened at $2.77 on Thursday. Nuvation Bio has a twelve month low of $1.52 and a twelve month high of $4.16. The company has a market cap of $930.62 million, a P/E ratio of -1.27 and a beta of 1.47. The business has a fifty day moving average of $2.74 and a 200-day moving average of $2.80.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The business had revenue of $0.73 million during the quarter. As a group, equities research analysts anticipate that Nuvation Bio will post -0.36 earnings per share for the current fiscal year.

Institutional Trading of Nuvation Bio

Several hedge funds have recently added to or reduced their stakes in NUVB. FMR LLC grew its stake in Nuvation Bio by 1.4% in the third quarter. FMR LLC now owns 29,238,871 shares of the company’s stock valued at $66,957,000 after acquiring an additional 416,932 shares during the period. State Street Corp lifted its holdings in shares of Nuvation Bio by 4.8% during the 3rd quarter. State Street Corp now owns 4,166,441 shares of the company’s stock valued at $9,541,000 after purchasing an additional 191,031 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Nuvation Bio by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,028,692 shares of the company’s stock valued at $9,227,000 after purchasing an additional 196,247 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Nuvation Bio by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,394,015 shares of the company’s stock worth $3,192,000 after purchasing an additional 60,590 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. acquired a new stake in Nuvation Bio during the 3rd quarter worth approximately $2,790,000. Institutional investors and hedge funds 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.