Nuvation Bio Inc. (NYSE:NUVB) Receives Consensus Recommendation of "Buy" from Analysts

Key Points

• Nuvation Bio Inc. has received an average consensus recommendation of "Buy" from six analysts, with five rated as buy and one as strong buy.
• The average 12-month price target set by analysts for Nuvation Bio's stock is $7.3333.
• Institutional investors hold 61.67% of Nuvation Bio's shares, indicating strong interests from hedge funds and investment firms.

Nuvation Bio Inc. (NYSE:NUVB - Get Free Report) has been given an average rating of "Buy" by the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Five 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 objective among analysts that have issued a report on the stock in the last year is $7.3333.

NUVB has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Nuvation Bio from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Wedbush reiterated an "outperform" rating and set a $5.00 price objective on shares of Nuvation Bio in a report on Wednesday, June 11th. JMP Securities reiterated a "market outperform" rating and set a $6.00 price objective on shares of Nuvation Bio in a report on Wednesday, June 25th. Finally, Royal Bank Of Canada increased their price objective on shares of Nuvation Bio from $6.00 to $7.00 and gave the stock an "outperform" rating in a report on Friday, August 8th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Nuvation Bio by 16.8% in the second quarter. Geode Capital Management LLC now owns 5,994,798 shares of the company's stock valued at $11,691,000 after buying an additional 864,194 shares during the period. MPM Bioimpact LLC raised its holdings in Nuvation Bio by 11.7% in the first quarter. MPM Bioimpact LLC now owns 4,652,243 shares of the company's stock valued at $8,188,000 after buying an additional 488,065 shares during the period. Millennium Management LLC raised its holdings in Nuvation Bio by 52.4% in the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company's stock valued at $6,642,000 after buying an additional 1,298,131 shares during the period. Northern Trust Corp raised its holdings in Nuvation Bio by 37.0% in the fourth quarter. Northern Trust Corp now owns 2,086,751 shares of the company's stock valued at $5,551,000 after buying an additional 563,627 shares during the period. Finally, Two Sigma Investments LP raised its holdings in Nuvation Bio by 0.5% in the fourth quarter. Two Sigma Investments LP now owns 1,151,256 shares of the company's stock valued at $3,062,000 after buying an additional 5,925 shares during the period. Hedge funds and other institutional investors own 61.67% of the company's stock.

Nuvation Bio Trading Down 0.7%

Shares of NUVB stock opened at $2.88 on Tuesday. The firm has a market cap of $985.74 million, a P/E ratio of -4.57 and a beta of 1.35. Nuvation Bio has a 1-year low of $1.54 and a 1-year high of $3.45. The company has a debt-to-equity ratio of 0.13, a current ratio of 9.39 and a quick ratio of 9.38. The firm's 50-day simple moving average is $2.29 and its 200-day simple moving average is $2.16.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.17) earnings per share for the quarter, hitting the consensus estimate of ($0.17). The business had revenue of $4.83 million for the quarter, compared to analyst estimates of $0.42 million. Nuvation Bio had a negative net margin of 1,413.43% and a negative return on equity of 46.14%. As a group, equities analysts forecast that Nuvation Bio will post -0.36 EPS for the current year.

Nuvation Bio Company Profile

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.

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