Nuvation Bio (NYSE:NUVB) Announces Earnings Results

Key Points

• Nuvation Bio met earnings expectations, reporting a quarterly loss of $0.12 per share, while revenue of $44.95 million exceeded analysts’ $34.39 million estimate.
• Shares slipped 0.1% to $4.68 on Wednesday, despite the revenue beat.
• Analysts’ average rating is “Moderate Buy,” with a consensus price target of $13.22; nine analysts rate the stock Buy, two Hold, and one Sell.

Nuvation Bio (NYSE:NUVB - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.12) EPS for the quarter, meeting analysts' consensus estimates of ($0.12), FiscalAI reports. Nuvation Bio had a negative net margin of 88.18% and a negative return on equity of 46.59%. The business had revenue of $44.95 million during the quarter, compared to analyst estimates of $34.39 million.

Nuvation Bio Stock Down 0.1%

Shares of NUVB stock traded down $0.01 on Wednesday, hitting $4.68. The stock had a trading volume of 8,301,751 shares, compared to its average volume of 5,487,188. The company has a debt-to-equity ratio of 0.96, a current ratio of 8.37 and a quick ratio of 8.14. The business has a 50 day moving average of $5.55 and a 200 day moving average of $5.40. Nuvation Bio has a 12-month low of $4.05 and a 12-month high of $9.75. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -10.64 and a beta of 1.73.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NUVB shares. HC Wainwright raised their price objective on shares of Nuvation Bio from $17.00 to $21.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Nuvation Bio in a research report on Thursday, October 15th. Wall Street Zen lowered shares of Nuvation Bio from a "hold" rating to a "sell" rating in a report on Saturday, October 10th. Citizens Jmp restated a "market outperform" rating and issued a $10.00 target price on shares of Nuvation Bio in a report on Wednesday, September 16th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $11.00 price target on shares of Nuvation Bio in a research report on Wednesday, September 16th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $13.22.

Insiders Place Their Bets

In related news, insider Gary Hattersley sold 100,000 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $7.09, for a total transaction of $709,000.00. Following the transaction, the insider directly owned 100,000 shares in the company, valued at approximately $709,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 30.11% of the company's stock.

Nuvation Bio Company Profile

Nuvation Bio, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for patients with cancer. The company seeks to address areas of significant unmet need, with an emphasis on targeted therapies for solid tumors.

Nuvation Bio's lead product is taletrectinib, a next-generation tyrosine kinase inhibitor designed for patients with ROS1-positive non-small cell lung cancer (NSCLC), including certain tumors that have developed resistance to earlier ROS1-targeted treatments.

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