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

Key Points

• Analyst sentiment is moderately bullish: Five firms covering Nuvectis Pharma rate it a consensus “Moderate Buy,” with three buys, one strong buy, and one sell. The average 12-month price target is $36.25, above the reported $20.81 opening price.
• Institutional ownership is substantial: Institutional investors own 96.77% of NVCT, with BlackRock and Alyeska Investment Group among firms that recently initiated positions.
• The company remains an early-stage, loss-making biotech: Nuvectis reported quarterly EPS of -$0.30, missing the -$0.26 consensus estimate, while analysts expect a full-year EPS loss of $1.01. Its lead experimental programs target cancer treatments.

Shares of Nuvectis Pharma, Inc. (NASDAQ:NVCT - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $36.25.

NVCT has been the topic of a number of recent analyst reports. Loop Capital set a $40.00 price target on Nuvectis Pharma in a report on Tuesday, September 1st. HC Wainwright reissued a "buy" rating and issued a $39.00 price objective on shares of Nuvectis Pharma in a report on Thursday, September 24th. Roth Capital raised their target price on Nuvectis Pharma from $20.00 to $33.00 and gave the company a "buy" rating in a research report on Monday, July 6th. Weiss Ratings raised Nuvectis Pharma from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, September 21st. Finally, UBS Group set a $33.00 price target on Nuvectis Pharma in a research report on Monday, July 6th.

Nuvectis Pharma Stock Up 2.9%

NVCT stock opened at $20.81 on Tuesday. Nuvectis Pharma has a fifty-two week low of $5.55 and a fifty-two week high of $29.27. The firm's 50-day simple moving average is $21.73 and its 200 day simple moving average is $15.39. The stock has a market cap of $679.24 million, a PE ratio of -15.89 and a beta of -0.26.

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

Institutional Investors Weigh In On Nuvectis Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of NVCT. BlackRock Inc. bought a new position in Nuvectis Pharma in the 2nd quarter valued at about $18,414,000. Occam Crest Management LP raised its position in shares of Nuvectis Pharma by 31.0% during the 4th quarter. Occam Crest Management LP now owns 380,000 shares of the company's stock worth $2,869,000 after buying an additional 90,000 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Nuvectis Pharma during the 2nd quarter worth about $5,057,000. Stonepine Capital Management LLC acquired a new stake in shares of Nuvectis Pharma in the 2nd quarter worth approximately $735,600. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Nuvectis Pharma in the 2nd quarter worth approximately $676,000. 96.77% of the stock is currently owned by institutional investors.

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.

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