Nuvectis Pharma (NASDAQ:NVCT) Earns “Buy” Rating from HC Wainwright

Nuvectis Pharma (NASDAQ:NVCT – Get Free Report)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a research note issued to investors on Thursday, Benzinga reports. They currently have a $39.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 80.40% from the company’s previous close.

Several other analysts also recently issued reports on the company. Lucid Cap Mkts raised Nuvectis Pharma to a “strong-buy” rating in a research note on Tuesday, September 1st. Weiss Ratings raised Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Roth Capital boosted their target price on Nuvectis Pharma from $20.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, July 6th. UBS Group set a $33.00 price objective on Nuvectis Pharma in a report on Monday, July 6th. Finally, Cantor Fitzgerald began coverage on Nuvectis Pharma in a report on Monday, August 24th. They set an “overweight” rating for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Nuvectis Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $36.25.

Get Our Latest Stock Analysis on Nuvectis Pharma

Nuvectis Pharma Stock Performance

Shares of NASDAQ NVCT traded up $0.55 during midday trading on Thursday, hitting $21.62. 154,787 shares of the company’s stock traded hands, compared to its average volume of 172,786. Nuvectis Pharma has a 1 year low of $5.55 and a 1 year high of $29.27. The stock has a market capitalization of $705.73 million, a price-to-earnings ratio of -16.52 and a beta of -0.26. The firm has a fifty day moving average of $21.59 and a 200 day moving average of $15.14.

Nuvectis Pharma (NASDAQ:NVCT – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.04). On average, equities analysts anticipate that Nuvectis Pharma will post -1.01 earnings per share for the current year.

Insider Activity

In other news, major shareholder Marlio Charles Mosseri acquired 50,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were acquired at an average cost of $18.32 per share, with a total value of $916,000.00. Following the completion of the acquisition, the insider owned 3,186,576 shares of the company’s stock, valued at approximately $58,378,072.32. This trade represents a 1.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ron Bentsur acquired 12,500 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $250,000.00. Following the completion of the acquisition, the chief executive officer directly owned 3,688,424 shares of the company’s stock, valued at approximately $73,768,480. This trade represents a 0.34% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 28.55% of the company’s stock.

Institutional Trading of Nuvectis Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Alyeska Investment Group L.P. purchased a new position in Nuvectis Pharma during the second quarter worth approximately $5,057,000. Stonepine Capital Management LLC purchased a new position in Nuvectis Pharma during the second quarter worth approximately $735,600. Bank of America Corp DE purchased a new position in Nuvectis Pharma during the second quarter worth approximately $218,000. Legal & General Group Plc purchased a new position in shares of Nuvectis Pharma in the second quarter valued at approximately $31,000. Finally, BlackRock Inc. purchased a new position in shares of Nuvectis Pharma in the second quarter valued at approximately $18,414,000. 96.77% of the stock is owned by institutional investors and hedge funds.

Nuvectis Pharma Company Profile

(Get Free Report)

Nuvectis Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing innovative treatments for cancer and other serious diseases with limited therapeutic options. The company’s research and development efforts are centered on small-molecule medicines designed to target biological pathways involved in tumor growth and treatment resistance.

Nuvectis’ lead programs include NXP800, an investigational inhibitor of the heat shock factor 1 pathway being evaluated for potential use in selected solid tumors, and NXP900, an investigational inhibitor of the SRC and YES1 protein kinases.

Further Reading

Analyst Recommendations for Nuvectis Pharma (NASDAQ:NVCT)

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