Nuvectis Pharma (NASDAQ:NVCT – Get Free Report)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They presently have a $39.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 83.06% from the stock’s previous close.
NVCT has been the subject of a number of other research reports. UBS Group set a $33.00 price objective on Nuvectis Pharma in a report on Monday, July 6th. Lucid Cap Mkts upgraded Nuvectis Pharma to a “strong-buy” rating in a report on Tuesday, September 1st. Loop Capital set a $40.00 price objective on Nuvectis Pharma in a report on Tuesday, September 1st. Cantor Fitzgerald initiated coverage on Nuvectis Pharma in a report on Monday, August 24th. They set an “overweight” rating for the company. Finally, Weiss Ratings upgraded Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. One equities 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.25.
Get Our Latest Stock Report on NVCT
Nuvectis Pharma Price Performance
Nuvectis Pharma (NASDAQ:NVCT – Get Free Report) last announced its quarterly earnings results 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, analysts forecast that Nuvectis Pharma will post -1.01 earnings per share for the current year.
Insider Buying and Selling at Nuvectis Pharma
In related news, CEO Ron Bentsur purchased 12,500 shares of the stock in a transaction dated Tuesday, June 30th. The stock was bought 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 owned 3,688,424 shares of the company’s stock, valued at approximately $73,768,480. This represents a 0.34% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Marlio Charles Mosseri purchased 50,000 shares of the stock in a transaction dated Tuesday, June 30th. The shares were bought at an average price of $18.32 per share, with a total value of $916,000.00. Following the completion of the acquisition, the insider directly owned 3,186,576 shares of the company’s stock, valued at approximately $58,378,072.32. This represents a 1.59% increase in their position. The disclosure for this purchase is available in the SEC filing. 28.55% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. acquired a new stake in Nuvectis Pharma in the second quarter valued at $5,057,000. Stonepine Capital Management LLC acquired a new stake in Nuvectis Pharma in the second quarter valued at $735,600. Bank of America Corp DE acquired a new stake in Nuvectis Pharma in the second quarter valued at $218,000. Legal & General Group Plc acquired a new stake in Nuvectis Pharma in the second quarter valued at $31,000. Finally, BlackRock Inc. acquired a new stake in Nuvectis Pharma in the second quarter valued at $18,414,000. 96.77% of the stock is currently owned by institutional investors and hedge funds.
About Nuvectis Pharma
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.
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