Nuvation Bio (NYSE:NUVB) Earns Buy Rating from HC Wainwright

Key Points

• HC Wainwright reinstated a "buy" rating on NUVB with a $17 price target, implying roughly a 282% upside from the current price.
• Analyst consensus is mixed but tilted positive: eight Buys, one Hold and one Sell result in an average "Moderate Buy" rating and an average price target of $11.63.
• Quarterly results beat estimates but fundamentals show weakness: Nuvation reported EPS of $0.01 and revenue of $83.23M (both above expectations) while still having negative net margin and ROE, and insiders sold about 286,750 shares in the past three months.

Nuvation Bio (NYSE:NUVB - Get Free Report)'s stock had its "buy" rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $17.00 price target on the stock. HC Wainwright's price objective points to a potential upside of 282.02% from the stock's current price.

A number of other brokerages have also recently issued reports on NUVB. Truist Financial set a $13.00 target price on Nuvation Bio in a report on Tuesday, January 27th. UBS Group lowered their target price on Nuvation Bio from $10.00 to $7.00 and set a "neutral" rating for the company in a report on Tuesday, March 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Nuvation Bio in a research note on Tuesday, April 21st. Wedbush reissued an "outperform" rating and issued a $11.00 price target on shares of Nuvation Bio in a research note on Thursday, April 16th. Finally, Royal Bank Of Canada increased their price target on Nuvation Bio from $12.00 to $13.00 and gave the company an "outperform" rating in a research note on Tuesday, March 3rd. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Nuvation Bio has an average rating of "Moderate Buy" and an average price target of $11.63.

Nuvation Bio Price Performance

Shares of NUVB opened at $4.45 on Tuesday. Nuvation Bio has a 12-month low of $1.57 and a 12-month high of $9.75. The business has a 50-day simple moving average of $4.72 and a two-hundred day simple moving average of $5.92. The company has a quick ratio of 6.81, a current ratio of 6.95 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.55 billion, a PE ratio of -7.42 and a beta of 1.51.

Nuvation Bio (NYSE:NUVB - Get Free Report) last issued its earnings results on Monday, May 4th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.03) by $0.04. Nuvation Bio had a negative return on equity of 57.48% and a negative net margin of 325.31%.The business had revenue of $83.23 million during the quarter, compared to analysts' expectations of $65.73 million. Analysts anticipate that Nuvation Bio will post -0.47 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Dongfang Liu sold 50,000 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $5.02, for a total value of $251,000.00. Following the completion of the sale, the insider owned 18,000 shares of the company's stock, valued at approximately $90,360. This represents a 73.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kerry Wentworth sold 36,750 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $5.01, for a total value of $184,117.50. Following the completion of the sale, the insider directly owned 53,000 shares of the company's stock, valued at approximately $265,530. The trade was a 40.95% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 286,750 shares of company stock valued at $1,339,118. Insiders own 30.11% of the company's stock.

Institutional Investors Weigh In On Nuvation Bio

Several institutional investors and hedge funds have recently made changes to their positions in the business. Kornitzer Capital Management Inc. KS bought a new stake in shares of Nuvation Bio during the 1st quarter valued at about $634,000. Hsbc Holdings PLC bought a new stake in shares of Nuvation Bio during the 1st quarter valued at about $101,000. Revisor Wealth Management LLC boosted its position in shares of Nuvation Bio by 40.3% during the 1st quarter. Revisor Wealth Management LLC now owns 18,520 shares of the company's stock valued at $79,000 after purchasing an additional 5,317 shares in the last quarter. AMI Asset Management Corp boosted its position in shares of Nuvation Bio by 52.1% during the 1st quarter. AMI Asset Management Corp now owns 192,427 shares of the company's stock valued at $826,000 after purchasing an additional 65,955 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Nuvation Bio during the 1st quarter valued at about $43,000. Institutional investors own 61.67% of the company's stock.

Nuvation Bio Company Profile

Nuvation Bio is a clinical-stage biotechnology company dedicated to discovering and developing small-molecule therapies for patients with cancer. The company employs an integrated research and development platform that spans target identification, preclinical evaluation, process chemistry, and early-stage clinical trials. By centralizing these capabilities, Nuvation Bio aims to accelerate the translation of promising drug candidates from laboratory research to first-in-human studies.

The company's pipeline comprises multiple oncology programs, with small-molecule kinase inhibitors and targeted agents in Phase 1 development for both hematologic malignancies and solid tumors.

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