Nuvectis Pharma (NASDAQ:NVCT) Earns "Buy" Rating from HC Wainwright

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at HC Wainwright in a report released on Thursday, September 24th, Benzinga reports. They presently have a $39.00 price target on the stock. HC Wainwright's price objective suggests a potential upside of 88.59% from the company's current price.

A number of other analysts have also issued reports on the stock. Roth Capital lifted their price target on shares of Nuvectis Pharma from $20.00 to $33.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. 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. UBS Group set a $33.00 price target on shares of Nuvectis Pharma in a research note on Monday, July 6th. Cantor Fitzgerald initiated coverage on shares of Nuvectis Pharma in a research note on Monday, August 24th. They issued an "overweight" rating for the company. Finally, Lucid Cap Mkts upgraded shares of Nuvectis Pharma to a "strong-buy" rating in a research note on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.25.

Nuvectis Pharma Stock Down 2.1%

Shares of NVCT traded down $0.44 during mid-day trading on Thursday, reaching $20.68. 26,952 shares of the stock traded hands, compared to its average volume of 172,733. The firm has a market cap of $675.00 million, a price-to-earnings ratio of -15.83 and a beta of -0.26. The stock has a fifty day simple moving average of $21.79 and a 200 day simple moving average of $15.55. Nuvectis Pharma has a 12-month low of $5.55 and a 12-month high of $29.27.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.04). On average, equities research analysts expect that Nuvectis Pharma will post -1.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nuvectis Pharma

Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc acquired a new position in shares of Nuvectis Pharma during the second quarter valued at $31,000. Bank of America Corp DE acquired a new position in shares of Nuvectis Pharma during the second quarter valued at $218,000. Avalon Trust Co acquired a new position in shares of Nuvectis Pharma during the second quarter valued at $257,000. Deutsche Bank AG acquired a new position in shares of Nuvectis Pharma during the second quarter valued at $310,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Nuvectis Pharma during the second quarter valued at $676,000. Institutional investors and hedge funds own 96.77% of the company's stock.

About Nuvectis Pharma

Nuvectis Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing innovative treatments for cancer and other serious diseases with limited therapeutic options. The company's research and development efforts are centered on small-molecule medicines designed to target biological pathways involved in tumor growth and treatment resistance.

Nuvectis' lead programs include NXP800, an investigational inhibitor of the heat shock factor 1 pathway being evaluated for potential use in selected solid tumors, and NXP900, an investigational inhibitor of the SRC and YES1 protein kinases.