HC Wainwright Reiterates Buy Rating for Nuvation Bio (NYSE:NUVB)

Nuvation Bio (NYSE:NUVB - Get Free Report)'s stock had its "buy" rating restated by stock analysts at HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $8.00 price objective on the stock. HC Wainwright's target price would suggest a potential upside of 143.90% from the stock's current price.

A number of other equities analysts also recently weighed in on the company. Royal Bank of Canada upped their target price on Nuvation Bio from $4.00 to $5.00 and gave the company an "outperform" rating in a report on Wednesday, April 17th. Wedbush reiterated an "outperform" rating and issued a $5.00 target price on shares of Nuvation Bio in a report on Wednesday, May 15th. Jefferies Financial Group upgraded Nuvation Bio from a "hold" rating to a "buy" rating and upped their target price for the company from $1.40 to $10.00 in a report on Wednesday, March 27th. Finally, BTIG Research upgraded Nuvation Bio from a "neutral" rating to a "buy" rating and set a $5.00 price objective on the stock in a report on Tuesday, March 26th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Nuvation Bio presently has a consensus rating of "Buy" and an average price target of $6.60.

Nuvation Bio Price Performance

NYSE NUVB traded down $0.12 on Wednesday, hitting $3.28. 1,190,526 shares of the company were exchanged, compared to its average volume of 1,198,235. The company's 50 day moving average price is $3.00 and its 200-day moving average price is $2.09. The firm has a market capitalization of $715.20 million, a P/E ratio of -10.58 and a beta of 1.42. Nuvation Bio has a twelve month low of $0.95 and a twelve month high of $4.16.

Nuvation Bio (NYSE:NUVB - Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. As a group, equities analysts expect that Nuvation Bio will post -0.32 EPS for the current year.

Institutional Investors Weigh In On Nuvation Bio

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Nuvation Bio by 3.0% during the first quarter. Vanguard Group Inc. now owns 7,534,148 shares of the company's stock worth $27,424,000 after purchasing an additional 219,533 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Nuvation Bio by 551.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company's stock worth $4,932,000 after purchasing an additional 1,146,794 shares during the period. Acadian Asset Management LLC boosted its position in Nuvation Bio by 81.9% during the first quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company's stock worth $4,273,000 after purchasing an additional 528,660 shares during the period. Octagon Capital Advisors LP bought a new stake in shares of Nuvation Bio in the fourth quarter valued at approximately $1,510,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Nuvation Bio by 254.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 748,793 shares of the company's stock valued at $2,726,000 after acquiring an additional 537,314 shares during the period. Institutional investors 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.