Nuvectis Pharma's (NVCT) "Sell (E+)" Rating Reaffirmed at Weiss Ratings

Key Points

• Nuvectis Pharma (NASDAQ:NVCT) has had its "sell (e+)" rating reaffirmed by Weiss Ratings, indicating ongoing concerns about the stock's performance.
• Following recent ratings adjustments, HC Wainwright lowered the price target for Nuvectis Pharma from $15.00 to $10.00, while the average target price remains at $15.33.
• The company reported a loss of ($0.30) earnings per share for the last quarter, missing estimates, and analysts predict Nuvectis will post –1.01 earnings per share for the current fiscal year.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report)'s stock had its "sell (e+)" rating reiterated by investment analysts at Weiss Ratings in a note issued to investors on Saturday,Weiss Ratings reports.

Several other research analysts have also recently weighed in on NVCT. HC Wainwright lowered their price target on shares of Nuvectis Pharma from $15.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Wall Street Zen cut shares of Nuvectis Pharma from a "hold" rating to a "sell" rating in a report on Sunday, June 29th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $15.33.

Nuvectis Pharma Stock Up 3.2%

Nuvectis Pharma stock opened at $6.20 on Friday. The stock has a market cap of $157.85 million, a P/E ratio of -5.30 and a beta of -0.29. Nuvectis Pharma has a twelve month low of $4.44 and a twelve month high of $11.80. The company's 50-day moving average price is $6.25 and its two-hundred day moving average price is $7.70.

Nuvectis Pharma (NASDAQ:NVCT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.05). Equities analysts anticipate that Nuvectis Pharma will post -1.01 earnings per share for the current fiscal year.

Institutional Trading of Nuvectis Pharma

Several large investors have recently made changes to their positions in NVCT. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Nuvectis Pharma during the 2nd quarter worth approximately $28,000. JPMorgan Chase & Co. boosted its position in shares of Nuvectis Pharma by 3,398.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,263 shares of the company's stock worth $47,000 after acquiring an additional 6,084 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Nuvectis Pharma during the 2nd quarter worth approximately $53,000. Bank of America Corp DE boosted its position in shares of Nuvectis Pharma by 417.2% during the 2nd quarter. Bank of America Corp DE now owns 8,565 shares of the company's stock worth $64,000 after acquiring an additional 6,909 shares in the last quarter. Finally, New York State Common Retirement Fund acquired a new stake in shares of Nuvectis Pharma during the 2nd quarter worth approximately $97,000. Institutional investors and hedge funds own 96.77% of the company's stock.

Nuvectis Pharma Company Profile

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.

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