Citizens Jmp Issues Positive Forecast for Nuvation Bio (NYSE:NUVB) Stock Price

Nuvation Bio (NYSE:NUVB) had its price objective boosted by analysts at Citizens Jmp from $6.00 to $8.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s price target points to a potential upside of 54.65% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Royal Bank Of Canada increased their price target on shares of Nuvation Bio from $6.00 to $7.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Nuvation Bio in a research report on Wednesday, October 8th. JMP Securities set a $8.00 price target on shares of Nuvation Bio in a research report on Tuesday. Wall Street Zen upgraded shares of Nuvation Bio from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Nuvation Bio in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.43.

Nuvation Bio Stock Performance

NYSE NUVB opened at $5.17 on Tuesday. Nuvation Bio has a 1 year low of $1.54 and a 1 year high of $5.55. 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 firm has a market cap of $1.77 billion, a price-to-earnings ratio of -8.21 and a beta of 1.48. The company has a fifty day moving average price of $3.68 and a 200-day moving average price of $2.75.

Nuvation Bio (NYSE:NUVB) last posted its earnings results on Monday, November 3rd. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.01. The firm had revenue of $13.12 million during the quarter, compared to analyst estimates of $7.48 million. Nuvation Bio had a negative net margin of 1,413.43% and a negative return on equity of 46.14%. As a group, equities research analysts predict that Nuvation Bio will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling

In other Nuvation Bio news, insider Gary Hattersley sold 100,000 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $5.02, for a total transaction of $502,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 29.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nuvation Bio

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Nuvation Bio by 16.8% in the second quarter. Geode Capital Management LLC now owns 5,994,798 shares of the company’s stock worth $11,691,000 after buying an additional 864,194 shares in the last quarter. MPM Bioimpact LLC lifted its holdings in shares of Nuvation Bio by 11.7% in the first quarter. MPM Bioimpact LLC now owns 4,652,243 shares of the company’s stock worth $8,188,000 after buying an additional 488,065 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Nuvation Bio by 52.4% in the first quarter. Millennium Management LLC now owns 3,774,003 shares of the company’s stock worth $6,642,000 after buying an additional 1,298,131 shares in the last quarter. Algert Global LLC lifted its holdings in shares of Nuvation Bio by 15.3% in the first quarter. Algert Global LLC now owns 1,005,226 shares of the company’s stock worth $1,769,000 after buying an additional 133,757 shares in the last quarter. Finally, Natixis purchased a new stake in shares of Nuvation Bio in the second quarter worth about $1,766,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

Nuvation Bio Company Profile

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.