Nuvation Bio Inc. (NYSE:NUVB) Receives $7.50 Average Price Target from Brokerages

Key Points

• Nuvation Bio Inc. (NYSE:NUVB) has received a consensus rating of "Buy" from six research firms, with five analysts recommending a buy and one a strong buy.
• The average price target for Nuvation Bio shares is $7.50, with recent price objectives ranging from $6.00 to $10.00 set by various brokerages.
• In the latest quarter, Nuvation Bio reported earnings per share of ($0.17) and revenue of $4.83 million, exceeding analyst estimates significantly.

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) has been assigned a consensus rating of "Buy" from the six research firms that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $7.50.

A number of equities research analysts recently commented on NUVB shares. Royal Bank Of Canada increased their price objective on shares of Nuvation Bio from $6.00 to $7.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. HC Wainwright reiterated a "buy" rating and set a $10.00 price target on shares of Nuvation Bio in a report on Friday. JMP Securities reissued a "market outperform" rating and issued a $6.00 target price on shares of Nuvation Bio in a research report on Wednesday, June 25th. Wall Street Zen raised shares of Nuvation Bio from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Finally, Wedbush reissued an "outperform" rating and issued a $6.00 target price on shares of Nuvation Bio in a research report on Monday, September 8th.

Institutional Trading of Nuvation Bio

A number of hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new position in Nuvation Bio in the fourth quarter worth $27,000. BNP Paribas Financial Markets acquired a new position in shares of Nuvation Bio during the fourth quarter valued at $64,000. Exome Asset Management LLC acquired a new position in shares of Nuvation Bio during the first quarter valued at $170,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Nuvation Bio by 54.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 347,806 shares of the company's stock valued at $925,000 after acquiring an additional 122,187 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Nuvation Bio by 82.7% during the fourth quarter. Millennium Management LLC now owns 2,475,872 shares of the company's stock valued at $6,586,000 after acquiring an additional 1,120,874 shares during the period. Hedge funds and other institutional investors own 61.67% of the company's stock.

Nuvation Bio Price Performance

Shares of NUVB traded down $0.03 during trading hours on Friday, reaching $3.25. The company had a trading volume of 1,312,999 shares, compared to its average volume of 4,552,378. The firm has a 50 day simple moving average of $2.77 and a 200-day simple moving average of $2.31. The company has a current ratio of 9.39, a quick ratio of 9.38 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -5.15 and a beta of 1.36. Nuvation Bio has a 12-month low of $1.54 and a 12-month high of $4.09.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.17). The business had revenue of $4.83 million during the quarter, compared to the consensus estimate of $0.42 million. Nuvation Bio had a negative net margin of 1,413.43% and a negative return on equity of 46.14%. Research analysts expect 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.