HC Wainwright Reiterates “Buy” Rating for Nuvectis Pharma (NASDAQ:NVCT)

Nuvectis Pharma (NASDAQ:NVCT)‘s stock had its “buy” rating reissued by 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 prior price objective of $11.00. HC Wainwright’s target price points to a potential upside of 55.93% from the company’s current price.

A number of other equities research analysts also recently issued reports on the stock. Laidlaw assumed 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 report on Wednesday, April 2nd. They issued a “buy” rating and a $17.00 target price on the stock.

Nuvectis Pharma Stock Performance

Shares of NVCT opened at $9.62 on Wednesday. Nuvectis Pharma has a 1 year low of $4.44 and a 1 year high of $11.80. The company’s 50 day simple moving average is $8.69 and its 200 day simple moving average is $7.15. The company has a market capitalization of $225.03 million, a price-to-earnings ratio of -8.29 and a beta of -0.11.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.08). Equities analysts expect that Nuvectis Pharma will post -1.01 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Marlio Charles Mosseri acquired 240,000 shares of Nuvectis Pharma stock in a transaction on Friday, February 7th. The shares were bought at an average price of $5.00 per share, for a total transaction of $1,200,000.00. Following the completion of the purchase, the insider now directly owns 2,884,121 shares in the company, valued at $14,420,605. This trade represents a 9.08 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 35.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Nuvectis Pharma

Large investors have recently modified their holdings of the stock. Baldwin Wealth Partners LLC MA boosted its holdings in Nuvectis Pharma by 0.7% in the 1st quarter. Baldwin Wealth Partners LLC MA now owns 358,461 shares of the company’s stock worth $3,502,000 after acquiring an additional 2,500 shares during the period. Iridian Asset Management LLC CT purchased a new stake in shares of Nuvectis Pharma during the first quarter valued at approximately $2,481,000. Marshall Wace LLP lifted its position in shares of Nuvectis Pharma by 191.0% during the fourth quarter. Marshall Wace LLP now owns 124,571 shares of the company’s stock worth $674,000 after purchasing an additional 81,757 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Nuvectis Pharma by 49.8% in the third quarter. Geode Capital Management LLC now owns 79,716 shares of the company’s stock valued at $501,000 after purchasing an additional 26,489 shares during the period. Finally, Forbes J M & Co. LLP grew its holdings in Nuvectis Pharma by 21.9% during the 4th quarter. Forbes J M & Co. LLP now owns 59,000 shares of the company’s stock valued at $319,000 after purchasing an additional 10,599 shares in the last quarter. 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.