Brokers Set Expectations for Nuvectis Pharma, Inc.'s Q2 2024 Earnings (NASDAQ:NVCT)

Nuvectis Pharma, Inc. (NASDAQ:NVCT - Free Report) - Analysts at Roth Capital upped their Q2 2024 earnings per share (EPS) estimates for Nuvectis Pharma in a research report issued on Tuesday, May 7th. Roth Capital analyst J. Aschoff now forecasts that the company will earn ($0.23) per share for the quarter, up from their previous estimate of ($0.36). The consensus estimate for Nuvectis Pharma's current full-year earnings is ($1.52) per share. Roth Capital also issued estimates for Nuvectis Pharma's Q3 2024 earnings at ($0.24) EPS, Q4 2024 earnings at ($0.24) EPS, FY2024 earnings at ($0.96) EPS, FY2025 earnings at ($0.99) EPS, FY2026 earnings at ($1.02) EPS and FY2027 earnings at $1.65 EPS.

Separately, HC Wainwright restated a "buy" rating and set a $21.00 price objective on shares of Nuvectis Pharma in a report on Wednesday.

Nuvectis Pharma Price Performance

NASDAQ:NVCT traded up $0.02 during trading hours on Friday, reaching $6.40. 85,864 shares of the company were exchanged, compared to its average volume of 99,362. The firm has a market cap of $117.57 million, a price-to-earnings ratio of -4.47 and a beta of 0.45. The stock has a 50 day simple moving average of $8.10 and a 200 day simple moving average of $8.20. Nuvectis Pharma has a 52-week low of $5.92 and a 52-week high of $18.65.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.01).

Insider Activity

In other Nuvectis Pharma news, CEO Ron Bentsur purchased 5,000 shares of the business's stock in a transaction that occurred on Monday, March 18th. The shares were purchased at an average price of $10.29 per share, for a total transaction of $51,450.00. Following the completion of the acquisition, the chief executive officer now owns 3,242,484 shares of the company's stock, valued at approximately $33,365,160.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 38.85% of the company's stock.

Institutional Trading of Nuvectis Pharma

Large investors have recently added to or reduced their stakes in the stock. Strs Ohio boosted its stake in shares of Nuvectis Pharma by 178.6% in the third quarter. Strs Ohio now owns 3,900 shares of the company's stock valued at $50,000 after purchasing an additional 2,500 shares during the period. Blue Zone Wealth Advisors LLC purchased a new position in Nuvectis Pharma in the 1st quarter valued at about $118,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Nuvectis Pharma during the fourth quarter valued at about $160,000. Baldwin Brothers LLC MA increased its position in shares of Nuvectis Pharma by 22.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 142,040 shares of the company's stock worth $1,185,000 after acquiring an additional 25,660 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Nuvectis Pharma by 1.5% in the first quarter. Vanguard Group Inc. now owns 298,800 shares of the company's stock worth $2,450,000 after acquiring an additional 4,517 shares in the last quarter. 96.77% of the stock is currently owned by institutional investors and hedge funds.

About Nuvectis Pharma

Nuvectis Pharma, Inc, a biopharmaceutical company, focuses on the development of precision medicines for the treatment of serious unmet medical needs in oncology. The company's lead product candidate is NXP800, a novel small molecule that is in Phase 1b clinical trials for the treatment of patients with platinum-resistant, ARID1a-mutated ovarian carcinoma.