Wedbush Reiterates “Outperform” Rating for Nuvation Bio (NYSE:NUVB)

Nuvation Bio (NYSE:NUVB)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a note issued to investors on Thursday,Benzinga reports. They currently have a $11.00 price target on the stock. Wedbush’s target price would suggest a potential upside of 147.47% from the company’s current price.

Other research analysts have also issued reports about the company. HC Wainwright decreased their target price on Nuvation Bio from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Monday, January 12th. Royal Bank Of Canada lifted their price objective on shares of Nuvation Bio from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Truist Financial set a $13.00 price objective on shares of Nuvation Bio in a research report on Tuesday, January 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research note on Thursday, January 22nd. Finally, UBS Group reduced their target price on shares of Nuvation Bio from $10.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.63.

Nuvation Bio Trading Up 0.8%

Nuvation Bio stock opened at $4.45 on Thursday. Nuvation Bio has a 52 week low of $1.54 and a 52 week high of $9.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.81 and a current ratio of 6.95. The stock has a market capitalization of $1.55 billion, a P/E ratio of -7.41 and a beta of 1.60. The stock has a 50-day simple moving average of $5.06 and a 200 day simple moving average of $5.72.

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

Institutional Trading of Nuvation Bio

Institutional investors have recently added to or reduced their stakes in the company. Tema Etfs LLC acquired a new position in shares of Nuvation Bio in the second quarter valued at about $272,000. Aisling Capital Management LP raised its stake in Nuvation Bio by 16.5% in the 3rd quarter. Aisling Capital Management LP now owns 2,960,659 shares of the company’s stock worth $10,954,000 after purchasing an additional 419,650 shares in the last quarter. CWM LLC boosted its holdings in Nuvation Bio by 169.5% in the 3rd quarter. CWM LLC now owns 102,328 shares of the company’s stock valued at $379,000 after purchasing an additional 64,365 shares during the period. Natixis bought a new stake in Nuvation Bio in the 2nd quarter valued at about $1,766,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of Nuvation Bio by 69.9% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 339,271 shares of the company’s stock worth $1,255,000 after purchasing an additional 139,633 shares in the last quarter. 61.67% of the stock is currently owned by institutional investors.

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.