Nuvectis Pharma (NASDAQ:NVCT) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Nuvectis Pharma from “hold” to “sell.” Analyst opinions remain mixed, with MarketBeat reporting a “Moderate Buy” consensus and an average price target of $36.25.
• Nuvectis reported a quarterly loss of $1.02 per share, missing the analyst consensus estimate of a $0.24 loss by $0.78.
• The stock was reported up 17.7%; it opened at $20.91 and has traded between $5.55 and $29.27 over the past 52 weeks.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other research analysts also recently weighed in on the company. Lucid Cap Mkts upgraded Nuvectis Pharma to a "strong-buy" rating in a report on Tuesday, September 1st. Weiss Ratings upgraded shares of Nuvectis Pharma from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, September 21st. HC Wainwright reaffirmed a "buy" rating and issued a $39.00 price objective on shares of Nuvectis Pharma in a research report on Thursday, September 24th. Loop Capital set a $40.00 price target on shares of Nuvectis Pharma in a research note on Tuesday, September 1st. Finally, Cantor Fitzgerald initiated coverage on Nuvectis Pharma in a report on Monday, August 24th. They set an "overweight" rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.25.

Nuvectis Pharma Stock Up 17.7%

NVCT opened at $20.91 on Friday. The business's fifty day simple moving average is $20.89 and its 200 day simple moving average is $14.88. Nuvectis Pharma has a 52 week low of $5.55 and a 52 week high of $29.27. The stock has a market cap of $682.50 million, a PE ratio of -11.06 and a beta of -0.21.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($1.02) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.78). As a group, equities analysts anticipate that Nuvectis Pharma will post -1.30 earnings per share for the current year.

Institutional Investors Weigh In On Nuvectis Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. lifted its holdings in Nuvectis Pharma by 17.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 86,291 shares of the company's stock worth $1,822,000 after buying an additional 12,725 shares during the period. Iridian Asset Management LLC CT raised its position in shares of Nuvectis Pharma by 2.1% in the third quarter. Iridian Asset Management LLC CT now owns 793,207 shares of the company's stock valued at $16,753,000 after buying an additional 16,129 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Nuvectis Pharma during the 2nd quarter worth approximately $5,057,000. Stonepine Capital Management LLC acquired a new position in Nuvectis Pharma in the 2nd quarter valued at $735,600. Finally, Bank of America Corp DE acquired a new stake in Nuvectis Pharma during the second quarter worth approximately $218,000. 96.77% of the stock is owned by hedge funds and other institutional investors.

About Nuvectis Pharma

Nuvectis Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing innovative treatments for cancer, with an emphasis on cancers that have limited therapeutic options. The company is headquartered in Fort Lee, New Jersey, and its common stock trades on the Nasdaq Capital Market under the symbol NVCT.

Nuvectis Pharma's lead product candidate is NXP800, an orally administered small-molecule inhibitor of heat shock protein 90 (HSP90). The company is evaluating NXP800 in clinical studies for certain advanced solid tumors, including platinum-resistant ovarian cancer and cholangiocarcinoma.

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