Nuvation Bio (NYSE:NUVB) Coverage Initiated at Jefferies Financial Group

Key Points

• Nuvation Bio has been upgraded to a "strong-buy" rating by Jefferies Financial Group, indicating increased confidence from equities researchers about the stock's potential.
• Several other institutions have also issued positive ratings, with price targets ranging from $6.00 to $10.00, reflecting a consensus rating of "Buy" and an average target price of $7.86.
• The company reported its quarterly earnings with revenue of $4.83 million, significantly surpassing analysts' expectations, though it continues to operate at a loss with a negative net margin of 1,413.43%.

Research analysts at Jefferies Financial Group started coverage on shares of Nuvation Bio (NYSE:NUVB - Get Free Report) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm set a "buy" rating on the stock.

Several other research analysts have also recently issued reports on the stock. Wedbush restated an "outperform" rating and issued a $6.00 target price on shares of Nuvation Bio in a report on Monday, September 8th. Wall Street Zen upgraded shares of Nuvation Bio from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. 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. Royal Bank Of Canada lifted their price target on shares of Nuvation Bio from $6.00 to $7.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, HC Wainwright reissued a "buy" rating and set a $10.00 price target on shares of Nuvation Bio in a report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $7.86.

Nuvation Bio Price Performance

Shares of NUVB stock opened at $3.70 on Tuesday. 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 company's 50-day simple moving average is $2.89 and its two-hundred day simple moving average is $2.35. Nuvation Bio has a one year low of $1.54 and a one year high of $4.09. The company has a market capitalization of $1.27 billion, a P/E ratio of -5.87 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) EPS for the quarter, hitting the consensus estimate 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%. As a group, equities analysts anticipate that Nuvation Bio will post -0.36 EPS for the current year.

Hedge Funds Weigh In On Nuvation Bio

Institutional investors and hedge funds have recently bought and sold shares of the company. Highline Wealth Partners LLC bought a new position in Nuvation Bio in the second quarter worth approximately $25,000. Rangeley Capital LLC bought a new position in shares of Nuvation Bio in the second quarter worth $25,000. Wealth Enhancement Advisory Services LLC bought a new stake in Nuvation Bio during the fourth quarter valued at $27,000. Cetera Investment Advisers bought a new stake in Nuvation Bio during the second quarter worth about $29,000. Finally, Captrust Financial Advisors purchased a new position in shares of Nuvation Bio in the second quarter worth about $32,000. Institutional investors and hedge funds own 61.67% of the company's stock.

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.