Nuvation Bio's (NUVB) "Outperform" Rating Reaffirmed at Wedbush

Key Points

• Wedbush analysts have reiterated their "outperform" rating for Nuvation Bio (NUVB) with a price target of $6.00, suggesting a potential upside of 60% from the current price.
• The company reported a revenue of $4.83 million for the latest quarter, significantly exceeding the consensus estimate of $0.42 million, although it recorded a loss of ($0.17) EPS.
• Nuvation Bio's stock has an average rating of "Buy" among analysts, with a consensus target price of $7.50.

Nuvation Bio (NYSE:NUVB - Get Free Report)'s stock had its "outperform" rating reiterated by investment analysts at Wedbush in a report released on Monday,Benzinga reports. They currently have a $6.00 price target on the stock. Wedbush's price target would suggest a potential upside of 60.00% from the company's current price.

Other equities research analysts have also issued research reports about the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $6.00 target price on shares of Nuvation Bio in a report on Wednesday, June 25th. Wall Street Zen upgraded Nuvation Bio from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. Finally, Royal Bank Of Canada boosted their target price on Nuvation Bio from $6.00 to $7.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $7.50.

Nuvation Bio Trading Down 3.8%

Shares of NUVB stock opened at $3.75 on Monday. Nuvation Bio has a 12 month low of $1.54 and a 12 month high of $4.09. 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 business's 50 day moving average is $2.52 and its two-hundred day moving average is $2.21. The company has a market cap of $1.28 billion, a PE ratio of -5.95 and a beta of 1.36.

Nuvation Bio (NYSE:NUVB - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.17) EPS for the quarter, meeting 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 company had revenue of $4.83 million for the quarter, compared to the consensus estimate of $0.42 million. Equities analysts predict that Nuvation Bio will post -0.36 EPS for the current year.

Institutional Investors Weigh In On Nuvation Bio

Hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Nuvation Bio in the fourth quarter valued at approximately $27,000. Forum Financial Management LP bought a new stake in shares of Nuvation Bio in the fourth quarter valued at $29,000. Highline Wealth Partners LLC bought a new stake in shares of Nuvation Bio in the second quarter valued at $25,000. Rangeley Capital LLC bought a new stake in shares of Nuvation Bio in the second quarter valued at $25,000. Finally, Cetera Investment Advisers bought a new stake in shares of Nuvation Bio in the second quarter valued at $29,000. 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.

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