Analysts Set Nuvation Bio Inc. (NYSE:NUVB) Price Target at $11.63

Shares of Nuvation Bio Inc. (NYSE:NUVB) have received a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $11.6250.

A number of equities analysts have weighed in on NUVB shares. Citizens Jmp set a $10.00 price target on shares of Nuvation Bio in a research report on Thursday, November 20th. B. Riley Financial started coverage on shares of Nuvation Bio in a research report on Wednesday, November 19th. They set a “buy” rating and a $12.00 price objective on the stock. UBS Group lowered their target price on shares of Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Wedbush reaffirmed an “outperform” rating and issued a $11.00 target price on shares of Nuvation Bio in a report on Tuesday, February 10th. Finally, Truist Financial set a $13.00 price target on Nuvation Bio in a research note on Tuesday, January 27th.

Institutional Trading of Nuvation Bio

Several institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new position in Nuvation Bio in the 2nd quarter worth approximately $207,000. Tema Etfs LLC purchased a new stake in Nuvation Bio during the 2nd quarter valued at approximately $272,000. Aisling Capital Management LP raised its position in shares of Nuvation Bio by 16.5% during the third quarter. Aisling Capital Management LP now owns 2,960,659 shares of the company’s stock valued at $10,954,000 after buying an additional 419,650 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Nuvation Bio by 16.8% during the second quarter. Geode Capital Management LLC now owns 5,994,798 shares of the company’s stock valued at $11,691,000 after buying an additional 864,194 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Nuvation Bio by 169.5% in the third quarter. CWM LLC now owns 102,328 shares of the company’s stock worth $379,000 after buying an additional 64,365 shares in the last quarter. Hedge funds and other institutional investors own 61.67% of the company’s stock.

Nuvation Bio Stock Up 1.8%

NYSE NUVB opened at $4.52 on Friday. Nuvation Bio has a 52 week low of $1.54 and a 52 week high of $9.75. The company has a quick ratio of 6.81, a current ratio of 6.95 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.55 billion, a P/E ratio of -7.53 and a beta of 1.49. The stock’s 50-day moving average price is $5.74 and its 200-day moving average price is $5.65.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.11). The company had revenue of $41.87 million during the quarter, compared to the consensus estimate of $36.82 million. Nuvation Bio had a negative return on equity of 57.48% and a negative net margin of 325.31%. On average, equities research analysts predict that Nuvation Bio will post -0.36 earnings per share for the current year.

About Nuvation Bio

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company’s pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.