Nuvectis Pharma (NASDAQ:NVCT – Get Free Report)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They presently have a $39.00 price target on the stock. HC Wainwright’s price objective suggests a potential upside of 84.77% from the stock’s current price.
Several other equities research analysts have also commented on NVCT. Cantor Fitzgerald began coverage on shares of Nuvectis Pharma in a research note on Monday, August 24th. They issued an “overweight” rating on the stock. UBS Group set a $33.00 price target on shares of Nuvectis Pharma in a research note on Monday, July 6th. Roth Capital raised their price target on shares of Nuvectis Pharma from $20.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Lucid Cap Mkts upgraded shares of Nuvectis Pharma to a “strong-buy” rating in a research note on Tuesday, September 1st. Finally, Loop Capital set a $40.00 price target on shares of Nuvectis Pharma in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Nuvectis Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.25.
Get Our Latest Stock Analysis on NVCT
Nuvectis Pharma Stock Performance
Nuvectis Pharma (NASDAQ:NVCT – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.04). As a group, equities research analysts forecast that Nuvectis Pharma will post -1.01 EPS for the current fiscal year.
Insider Buying and Selling
In related news, major shareholder Marlio Charles Mosseri acquired 50,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were acquired at an average price of $18.32 per share, for a total transaction 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 $58,378,072.32. The trade was a 1.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ron Bentsur acquired 12,500 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were bought at an average price of $20.00 per share, for a total transaction of $250,000.00. Following the purchase, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 28.55% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Nuvectis Pharma during the second quarter valued at approximately $18,414,000. Alyeska Investment Group L.P. bought a new stake in Nuvectis Pharma during the second quarter worth approximately $5,057,000. Occam Crest Management LP boosted its holdings in Nuvectis Pharma by 31.0% during the fourth quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock worth $2,869,000 after buying an additional 90,000 shares in the last quarter. Stonepine Capital Management LLC bought a new stake in Nuvectis Pharma during the second quarter worth approximately $735,600. Finally, Bank of New York Mellon Corp bought a new stake in Nuvectis Pharma during the second quarter worth approximately $676,000. Institutional investors and hedge funds 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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