Shares of Nuvectis Pharma, Inc. (NASDAQ:NVCT – Get Free Report) passed above its fifty day moving average during trading on Friday after Weiss Ratings upgraded the stock from a sell (e+) rating to a sell (d-) rating. The stock has a fifty day moving average of $20.89 and traded as high as $21.05. Nuvectis Pharma shares last traded at $20.91, with a volume of 257,686 shares trading hands.
A number of other equities analysts have also commented on the company. Roth Capital lifted their price objective on Nuvectis Pharma from $20.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Loop Capital set a $40.00 target price on shares of Nuvectis Pharma in a research report on Tuesday, September 1st. Lucid Cap Mkts upgraded shares of Nuvectis Pharma to a “strong-buy” rating in a report on Tuesday, September 1st. UBS Group set a $33.00 price target on shares of Nuvectis Pharma in a research report on Monday, July 6th. Finally, Cantor Fitzgerald initiated coverage on shares of Nuvectis Pharma in a research report on Monday, August 24th. They issued an “overweight” rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.25.
Read Our Latest Analysis on Nuvectis Pharma
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in NVCT. Oppenheimer & Co. Inc. increased its holdings in Nuvectis Pharma by 17.3% in the third quarter. Oppenheimer & Co. Inc. now owns 86,291 shares of the company’s stock worth $1,822,000 after purchasing an additional 12,725 shares in the last quarter. Iridian Asset Management LLC CT lifted its stake in Nuvectis Pharma by 2.1% in the third quarter. Iridian Asset Management LLC CT now owns 793,207 shares of the company’s stock valued at $16,753,000 after buying an additional 16,129 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Nuvectis Pharma during the 2nd quarter worth approximately $5,057,000. Stonepine Capital Management LLC bought a new position in shares of Nuvectis Pharma during the 2nd quarter worth approximately $735,600. Finally, Bank of America Corp DE bought a new position in shares of Nuvectis Pharma during the 2nd quarter worth approximately $218,000. 96.77% of the stock is owned by institutional investors and hedge funds.
Nuvectis Pharma Trading Up 17.7%
The company has a market cap of $719.09 million, a price-to-earnings ratio of -11.06 and a beta of -0.21. The firm’s 50-day moving average price is $20.89 and its 200 day moving average price is $14.88.
Nuvectis Pharma (NASDAQ:NVCT – Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported ($1.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.78). Analysts forecast that Nuvectis Pharma, Inc. will post -1.62 earnings per share for the current fiscal year.
About Nuvectis Pharma
Nuvectis Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing innovative treatments for cancer, with an emphasis on cancers that have limited therapeutic options. The company is headquartered in Fort Lee, New Jersey, and its common stock trades on the Nasdaq Capital Market under the symbol NVCT.
Nuvectis Pharma’s lead product candidate is NXP800, an orally administered small-molecule inhibitor of heat shock protein 90 (HSP90). The company is evaluating NXP800 in clinical studies for certain advanced solid tumors, including platinum-resistant ovarian cancer and cholangiocarcinoma.
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