Nuvation Bio Inc. (NYSE:NUVB) Receives $7.17 Average Price Target from Brokerages

Key Points

• Nuvation Bio Inc. (NYSE:NUVB) received an average consensus rating of "Buy" from five research firms, with four analysts recommending buy and one a strong buy.
• The average 12-month target price for Nuvation Bio shares is set at $7.17, despite the current trading price around $2.36.
• Institutional investors have recently increased their stakes in Nuvation Bio, with hedge funds owning 61.67% of the stock, indicating strong institutional interest.

Shares of Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) have earned an average recommendation of "Buy" from the five analysts that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $7.1667.

Several research analysts have weighed in on NUVB shares. Wall Street Zen raised Nuvation Bio from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Citizens Jmp started coverage on Nuvation Bio in a research report on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $6.00 target price on the stock. Royal Bank Of Canada raised Nuvation Bio from an "outperform" rating to a "moderate buy" rating and lowered their price objective for the company from $10.00 to $6.00 in a report on Tuesday, June 17th. JMP Securities reiterated a "market outperform" rating and issued a $6.00 price objective on shares of Nuvation Bio in a research report on Wednesday, June 25th. Finally, Citigroup initiated coverage on Nuvation Bio in a research note on Wednesday, April 23rd. They issued an "outperform" rating for the company.

Hedge Funds Weigh In On Nuvation Bio

A number of institutional investors have recently bought and sold shares of NUVB. Teacher Retirement System of Texas grew its position in Nuvation Bio by 73.1% during the fourth quarter. Teacher Retirement System of Texas now owns 64,502 shares of the company's stock worth $172,000 after buying an additional 27,231 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Nuvation Bio by 20.4% in the 4th quarter. American Century Companies Inc. now owns 411,173 shares of the company's stock valued at $1,094,000 after acquiring an additional 69,626 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Nuvation Bio in the fourth quarter valued at $116,000. LPL Financial LLC increased its holdings in Nuvation Bio by 27.0% in the fourth quarter. LPL Financial LLC now owns 31,348 shares of the company's stock valued at $83,000 after purchasing an additional 6,673 shares during the period. Finally, Vanguard Group Inc. lifted its position in Nuvation Bio by 45.4% in the 4th quarter. Vanguard Group Inc. now owns 15,732,567 shares of the company's stock valued at $41,849,000 after acquiring an additional 4,913,820 shares in the last quarter. Institutional investors and hedge funds own 61.67% of the company's stock.

Nuvation Bio Price Performance

Shares of Nuvation Bio stock traded up $0.05 during trading on Friday, hitting $2.36. The stock had a trading volume of 1,306,992 shares, compared to its average volume of 4,166,873. The firm has a market cap of $801.31 million, a P/E ratio of -1.00 and a beta of 1.35. The business has a fifty day moving average of $2.19 and a two-hundred day moving average of $2.14. Nuvation Bio has a fifty-two week low of $1.54 and a fifty-two week high of $3.45.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). The business had revenue of $3.08 million during the quarter, compared to the consensus estimate of $0.42 million. Nuvation Bio had a negative return on equity of 44.14% and a negative net margin of 5,534.21%. As a group, research analysts forecast that Nuvation Bio will post -0.36 earnings per share for the current year.

About Nuvation Bio

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.