Nuvation Bio (NYSE:NUVB) Given "Buy" Rating at HC Wainwright

Key Points

• Nuvation Bio's stock received a "buy" rating from HC Wainwright, with a target price of $10.00, indicating a potential upside of 216.46% from its previous close.
• As of recent reports, Nuvation Bio's stock has an average price target of $7.50 and a consensus rating of "Buy" from several analysts, with some also rating the stock as "outperform."
• Despite a negative net margin of 1,413.43%, Nuvation Bio reported revenue of $4.83 million for the quarter, surpassing analyst estimates of $0.42 million.

HC Wainwright reiterated their buy rating on shares of Nuvation Bio (NYSE:NUVB - Free Report) in a report issued on Friday morning,Benzinga reports. HC Wainwright currently has a $10.00 target price on the stock.

A number of other equities research analysts have also recently weighed in on the company. Royal Bank Of Canada raised their price target on Nuvation Bio from $6.00 to $7.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Wedbush reissued an "outperform" rating and issued a $6.00 target price on shares of Nuvation Bio in a research note on Monday, September 8th. JMP Securities reissued a "market outperform" rating and issued a $6.00 target price on shares of Nuvation Bio in a research note on Wednesday, June 25th. Finally, Wall Street Zen raised Nuvation Bio from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat.com, Nuvation Bio currently has a consensus rating of "Buy" and a consensus target price of $7.50.

Nuvation Bio Price Performance

NUVB stock traded up $0.04 during midday trading on Friday, reaching $3.21. 7,665,309 shares of the company's stock traded hands, compared to its average volume of 6,759,846. The company has a 50-day simple moving average of $2.75 and a two-hundred day simple moving average of $2.30. Nuvation Bio has a 1-year low of $1.54 and a 1-year high of $4.09. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -5.10 and a beta of 1.36. The company has a quick ratio of 9.38, a current ratio of 9.39 and a debt-to-equity ratio of 0.13.

Nuvation Bio (NYSE:NUVB - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) earnings per share for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $0.42 million. On average, analysts anticipate that Nuvation Bio will post -0.36 earnings per share for the current year.

Institutional Trading of Nuvation Bio

Several hedge funds and other institutional investors have recently modified their holdings of NUVB. BNP Paribas Financial Markets acquired a new stake in shares of Nuvation Bio in the 4th quarter valued at about $64,000. Deutsche Bank AG increased its position in shares of Nuvation Bio by 58.0% in the fourth quarter. Deutsche Bank AG now owns 155,100 shares of the company's stock valued at $413,000 after acquiring an additional 56,931 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Nuvation Bio by 5.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 103,939 shares of the company's stock valued at $276,000 after acquiring an additional 5,693 shares during the last quarter. Millennium Management LLC increased its position in shares of Nuvation Bio by 82.7% in 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 last quarter. Finally, ProShare Advisors LLC increased its position in shares of Nuvation Bio by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 51,060 shares of the company's stock valued at $136,000 after acquiring an additional 16,801 shares during the last quarter. Institutional investors and hedge funds own 61.67% of the company's stock.

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.