Nuvectis Pharma (NASDAQ:NVCT – Get Free Report)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a report released on Thursday, Benzinga reports. They presently have a $39.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 80.34% from the stock’s previous close.
NVCT has been the subject of several other research reports. Loop Capital set a $40.00 price objective on shares of Nuvectis Pharma in a report on Tuesday, September 1st. Cantor Fitzgerald initiated coverage on shares of Nuvectis Pharma in a report on Monday, August 24th. They set an “overweight” rating for the company. Weiss Ratings raised shares of Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday. Roth Capital increased their price objective on shares of Nuvectis Pharma from $20.00 to $33.00 and gave the company a “buy” rating in a report on Monday, July 6th. Finally, Lucid Cap Mkts raised shares of Nuvectis Pharma to a “strong-buy” rating in a report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Nuvectis Pharma presently has an average rating of “Moderate Buy” and an average price target of $36.25.
Check Out Our Latest Analysis on Nuvectis Pharma
Nuvectis Pharma Price Performance
Nuvectis Pharma (NASDAQ:NVCT – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.04). On average, sell-side analysts anticipate that Nuvectis Pharma will post -1.01 EPS for the current fiscal year.
Insider Buying and Selling
In other Nuvectis Pharma news, major shareholder Marlio Charles Mosseri acquired 50,000 shares of Nuvectis Pharma stock in a transaction that occurred on Tuesday, June 30th. The stock was bought at an average price of $18.32 per share, with a total value of $916,000.00. Following the completion of the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ron Bentsur acquired 12,500 shares of Nuvectis Pharma stock in a transaction that occurred on Tuesday, June 30th. The stock was acquired at an average cost of $20.00 per share, with a total value of $250,000.00. Following the purchase, the chief executive officer directly owned 3,688,424 shares of the company’s stock, valued at $73,768,480. This represents a 0.34% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 28.55% of the company’s stock.
Hedge Funds Weigh In On Nuvectis Pharma
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Nuvectis Pharma in the second quarter worth $18,414,000. Alyeska Investment Group L.P. purchased a new position in Nuvectis Pharma in the second quarter worth $5,057,000. Stonepine Capital Management LLC purchased a new position in Nuvectis Pharma in the second quarter worth $735,600. Bank of New York Mellon Corp purchased a new position in Nuvectis Pharma in the second quarter worth $676,000. Finally, Occam Crest Management LP grew its holdings in Nuvectis Pharma by 31.0% in the fourth quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock worth $2,869,000 after purchasing an additional 90,000 shares during the last quarter. Institutional investors own 96.77% of the company’s stock.
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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