Nuvation Bio Inc. (NYSE:NUVB) Receives $7.33 Consensus Target Price 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 earned an average recommendation of "Buy" from the six research firms that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $7.3333.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Highline Wealth Partners LLC bought a new stake in shares of Nuvation Bio in the 2nd quarter valued at $25,000. Rangeley Capital LLC bought a new stake in shares of Nuvation Bio in the 2nd quarter valued at $25,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Nuvation Bio in the 4th quarter valued at $27,000. Forum Financial Management LP bought a new stake in shares of Nuvation Bio in the 4th quarter valued at $29,000. Finally, Cetera Investment Advisers bought a new stake in shares of Nuvation Bio in the 2nd quarter valued at $29,000. Institutional investors and hedge funds own 61.67% of the company's stock.

Nuvation Bio Trading Up 1.9%

NYSE:NUVB traded up $0.06 during trading hours on Tuesday, hitting $2.98. 2,390,679 shares of the stock were exchanged, compared to its average volume of 4,721,690. The company's 50 day moving average is $2.38 and its two-hundred day moving average is $2.17. Nuvation Bio has a twelve month low of $1.54 and a twelve month high of $3.45. The company has a quick ratio of 9.38, a current ratio of 9.39 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.02 billion, a P/E ratio of -4.72 and a beta of 1.36.

Nuvation Bio (NYSE:NUVB - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.17). Nuvation Bio had a negative return on equity of 46.14% and a negative net margin of 1,413.43%.The firm had revenue of $4.83 million for the quarter, compared to the consensus estimate of $0.42 million. On average, sell-side analysts anticipate that Nuvation Bio will post -0.36 earnings per share for the current fiscal 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.