Nuvation Bio (NYSE:NUVB) Price Target Raised to $5.00

Nuvation Bio (NYSE:NUVB) had its price target lifted by research analysts at Royal Bank of Canada from $4.00 to $5.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 94.55% from the company’s current price.

A number of other equities research analysts have also recently weighed in on NUVB. BTIG Research raised shares of Nuvation Bio from a “neutral” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Tuesday, March 26th. Jefferies Financial Group upgraded shares of Nuvation Bio from a “hold” rating to a “buy” rating and boosted their price target for the stock from $1.40 to $10.00 in a research note on Wednesday, March 27th. Wedbush reiterated an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research note on Friday, March 1st. Finally, HC Wainwright boosted their price target on shares of Nuvation Bio from $5.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $6.60.

Nuvation Bio Trading Down 4.5 %

Nuvation Bio stock opened at $2.57 on Wednesday. The stock has a market cap of $560.39 million, a P/E ratio of -7.56 and a beta of 1.37. The company has a fifty day simple moving average of $2.47 and a 200-day simple moving average of $1.76. Nuvation Bio has a 12-month low of $0.95 and a 12-month high of $4.16.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. As a group, sell-side analysts forecast that Nuvation Bio will post -0.35 earnings per share for the current fiscal year.

Institutional Trading of Nuvation Bio

Institutional investors and hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its holdings in shares of Nuvation Bio by 219.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 738,831 shares of the company’s stock valued at $1,116,000 after purchasing an additional 507,452 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Nuvation Bio by 56.1% in the third quarter. Hsbc Holdings PLC now owns 174,827 shares of the company’s stock valued at $238,000 after purchasing an additional 62,844 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Nuvation Bio by 921.4% in the third quarter. SG Americas Securities LLC now owns 110,226 shares of the company’s stock valued at $148,000 after purchasing an additional 99,434 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Nuvation Bio by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 107,843 shares of the company’s stock valued at $163,000 after purchasing an additional 27,346 shares in the last quarter. Finally, Clarius Group LLC purchased a new stake in shares of Nuvation Bio in the third quarter valued at about $26,000. 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.