Nuvectis Pharma, Inc. (NASDAQ:NVCT) Stock Has Average Target Price of $36.25 According to Brokerages

Key Points

• Analysts have a “Moderate Buy” consensus on Nuvectis Pharma, with three buy ratings, one strong-buy, and one sell rating. The average 12-month price target is $36.25, including targets of $40 from Loop Capital and $33 from UBS.
• Institutional investors own 96.77% of NVCT; BlackRock and Alyeska Investment Group recently initiated stakes worth approximately $18.4 million and $5.1 million, respectively.
• Shares opened at $20.05 after declining 4%, while the company’s latest quarterly loss of $0.30 per share missed estimates by $0.04. Nuvectis is developing NXP800, an experimental cancer treatment being tested in advanced solid tumors.

Shares of Nuvectis Pharma, Inc. (NASDAQ:NVCT - Get Free Report) have received an average rating of "Moderate Buy" from the five ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $36.25.

Several brokerages have commented on NVCT. Weiss Ratings raised Nuvectis Pharma from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, September 21st. Lucid Cap Mkts upgraded Nuvectis Pharma to a "strong-buy" rating in a report on Tuesday, September 1st. Loop Capital set a $40.00 price objective on shares of Nuvectis Pharma in a research report on Tuesday, September 1st. Cantor Fitzgerald started coverage on shares of Nuvectis Pharma in a research note on Monday, August 24th. They set an "overweight" rating for the company. Finally, UBS Group set a $33.00 price objective on shares of Nuvectis Pharma in a report on Monday, July 6th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NVCT. BlackRock Inc. purchased a new stake in Nuvectis Pharma in the second quarter worth approximately $18,414,000. Alyeska Investment Group L.P. acquired a new stake in shares of Nuvectis Pharma in the second quarter worth $5,057,000. Stonepine Capital Management LLC purchased a new stake in shares of Nuvectis Pharma during the second quarter worth approximately $735,600. Bank of New York Mellon Corp purchased a new stake in Nuvectis Pharma in the second quarter valued at $676,000. Finally, Iridian Asset Management LLC CT lifted its holdings in Nuvectis Pharma by 2.1% during the 3rd quarter. Iridian Asset Management LLC CT now owns 793,207 shares of the company's stock worth $16,753,000 after buying an additional 16,129 shares in the last quarter. Institutional investors own 96.77% of the company's stock.

Nuvectis Pharma Trading Down 4.0%

Nuvectis Pharma stock opened at $20.05 on Friday. The firm has a market capitalization of $654.43 million, a PE ratio of -15.31 and a beta of -0.24. The firm's 50 day simple moving average is $21.82 and its 200 day simple moving average is $16.92. Nuvectis Pharma has a 1-year low of $5.55 and a 1-year high of $29.27.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.04). Research analysts forecast that Nuvectis Pharma will post -1.01 earnings per share for the current year.

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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