Wall Street Zen Upgrades Nuvation Bio (NYSE:NUVB) to Hold

Key Points

• Wall Street Zen has upgraded Nuvation Bio from a "sell" rating to a "hold" rating, indicating a shift in sentiment towards the stock.
• The company has a consensus rating of "Buy" from analysts, with a target price of $7.33, signaling potential upside based on current trading levels.
• Nuvation Bio reported earnings of ($0.17) EPS, meeting analyst expectations, while revenues surpassed forecasts with $4.83 million for the quarter.

Nuvation Bio (NYSE:NUVB - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Sunday.

Other analysts have also issued reports about the stock. Citizens Jmp assumed coverage on shares of Nuvation Bio in a report on Wednesday, April 23rd. They issued a "mkt outperform" rating and a $6.00 price objective on the stock. Citigroup assumed coverage on shares of Nuvation Bio in a research report on Wednesday, April 23rd. They set an "outperform" rating for the company. Royal Bank Of Canada increased their price objective on shares of Nuvation Bio from $6.00 to $7.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. JMP Securities reaffirmed a "market outperform" rating and set a $6.00 price objective on shares of Nuvation Bio in a research report on Wednesday, June 25th. Finally, Wedbush reaffirmed an "outperform" rating and set a $5.00 price objective on shares of Nuvation Bio in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $7.33.

Nuvation Bio Stock Performance

Nuvation Bio stock opened at $2.75 on Friday. The firm has a 50 day simple moving average of $2.21 and a 200-day simple moving average of $2.14. Nuvation Bio has a 1-year low of $1.54 and a 1-year high of $3.45. 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 stock has a market cap of $935.72 million, a price-to-earnings ratio of -4.37 and a beta of 1.35.

Nuvation Bio (NYSE:NUVB - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.17) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.17). The firm had revenue of $4.83 million for the quarter, compared to analyst estimates of $0.42 million. Nuvation Bio had a negative net margin of 1,413.43% and a negative return on equity of 46.14%. On average, analysts expect that Nuvation Bio will post -0.36 EPS for the current year.

Institutional Investors Weigh In On Nuvation Bio

A number of hedge funds have recently added to or reduced their stakes in NUVB. Highline Wealth Partners LLC acquired a new stake in Nuvation Bio during the 2nd quarter worth approximately $25,000. Rangeley Capital LLC acquired a new stake in Nuvation Bio during the 2nd quarter worth approximately $25,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Nuvation Bio during the 4th quarter worth approximately $27,000. Forum Financial Management LP acquired a new stake in Nuvation Bio during the 4th quarter worth approximately $29,000. Finally, Cetera Investment Advisers acquired a new stake in Nuvation Bio during the 2nd quarter worth approximately $29,000. 61.67% of the stock is currently owned by institutional investors and hedge funds.

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.

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