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

Nuvectis Pharma (NASDAQ:NVCT – Get Free Report)‘s stock had its “buy” rating reissued by HC Wainwright in a research report issued on Thursday, Benzinga reports. They presently have a $39.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 80.31% from the company’s previous close.

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

Get Our Latest Stock Report on NVCT

Nuvectis Pharma Stock Performance

Shares of NVCT stock traded up $0.56 on Thursday, hitting $21.63. The company had a trading volume of 258,188 shares, compared to its average volume of 173,369. Nuvectis Pharma has a twelve month low of $5.55 and a twelve month high of $29.27. The firm has a market cap of $706.09 million, a P/E ratio of -16.51 and a beta of -0.26. The stock’s 50-day moving average is $21.59 and its two-hundred day moving average is $15.14.

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

Insiders Place Their Bets

In related news, CEO Ron Bentsur acquired 12,500 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were bought at an average price of $20.00 per share, with a total value of $250,000.00. Following the transaction, the chief executive officer directly owned 3,688,424 shares of the company’s stock, valued at $73,768,480. This trade represents a 0.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Marlio Charles Mosseri acquired 50,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average price of $18.32 per share, with a total value of $916,000.00. Following the acquisition, the insider 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 28.55% of the company’s stock.

Hedge Funds Weigh In On Nuvectis Pharma

A number of hedge funds have recently added to or reduced their stakes in NVCT. BlackRock Inc. purchased a new position in shares of Nuvectis Pharma during the second quarter valued at approximately $18,414,000. Alyeska Investment Group L.P. purchased a new stake in Nuvectis Pharma in the 2nd quarter valued at $5,057,000. Stonepine Capital Management LLC bought a new position in Nuvectis Pharma during the 2nd quarter valued at $735,600. Bank of New York Mellon Corp bought a new position in Nuvectis Pharma during the 2nd quarter valued at $676,000. Finally, Occam Crest Management LP boosted its holdings in Nuvectis Pharma by 31.0% during the 4th quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock worth $2,869,000 after acquiring an additional 90,000 shares during the last quarter. Institutional investors and hedge funds own 96.77% of the company’s stock.

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.

See Also

Analyst Recommendations for Nuvectis Pharma (NASDAQ:NVCT)

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