HC Wainwright Reaffirms "Buy" Rating for Nuvectis Pharma (NASDAQ:NVCT)

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report)'s stock had its "buy" rating reissued by analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $15.00 price objective on the stock, up from their previous price objective of $11.00. HC Wainwright's target price points to a potential upside of 60.69% from the stock's current price.

Several other analysts also recently weighed in on the stock. Laidlaw initiated coverage on shares of Nuvectis Pharma in a report on Monday, March 17th. They issued a "buy" rating and a $19.00 target price for the company. Maxim Group initiated coverage on Nuvectis Pharma in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $17.00 price objective for the company.

Nuvectis Pharma Stock Performance

Shares of Nuvectis Pharma stock traded up $0.09 during trading hours on Wednesday, hitting $9.34. The company's stock had a trading volume of 83,742 shares, compared to its average volume of 126,243. The firm has a fifty day moving average of $8.74 and a 200-day moving average of $7.17. The stock has a market cap of $218.36 million, a price-to-earnings ratio of -8.05 and a beta of -0.11. Nuvectis Pharma has a twelve month low of $4.44 and a twelve month high of $11.80.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.08). On average, sell-side analysts expect that Nuvectis Pharma will post -1.01 earnings per share for the current fiscal year.

Insider Activity at Nuvectis Pharma

In related news, major shareholder Marlio Charles Mosseri bought 240,000 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average cost of $5.00 per share, for a total transaction of $1,200,000.00. Following the completion of the acquisition, the insider now owns 2,884,121 shares in the company, valued at approximately $14,420,605. This trade represents a 9.08 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 35.78% of the company's stock.

Institutional Investors Weigh In On Nuvectis Pharma

A number of hedge funds have recently bought and sold shares of the stock. Baldwin Wealth Partners LLC MA increased its stake in shares of Nuvectis Pharma by 0.7% during the first quarter. Baldwin Wealth Partners LLC MA now owns 358,461 shares of the company's stock worth $3,502,000 after buying an additional 2,500 shares during the period. Baxter Bros Inc. grew its holdings in Nuvectis Pharma by 20.0% during the 4th quarter. Baxter Bros Inc. now owns 15,000 shares of the company's stock worth $81,000 after acquiring an additional 2,500 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its position in shares of Nuvectis Pharma by 35.0% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 13,500 shares of the company's stock valued at $73,000 after purchasing an additional 3,500 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Nuvectis Pharma during the 4th quarter worth $34,000. Finally, Blue Zone Wealth Advisors LLC acquired a new position in shares of Nuvectis Pharma during the first quarter worth $102,000. Institutional investors and hedge funds own 96.77% of the company's stock.

About Nuvectis Pharma

Nuvectis Pharma, Inc, a biopharmaceutical company, focuses on the development of precision medicines for the treatment of serious unmet medical needs in oncology. The company's lead product candidate is NXP800, a novel small molecule that is in Phase 1b clinical trials for the treatment of patients with platinum-resistant, ARID1a-mutated ovarian carcinoma.