Nuvation Bio’s (NUVB) “Outperform” Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a report released on Friday, Benzinga reports. The firm currently has a $5.00 price objective on the stock.

Several other equities analysts also recently weighed in on NUVB. HC Wainwright reiterated a buy rating and issued a $8.00 price objective on shares of Nuvation Bio in a report on Wednesday, May 22nd. Jefferies Financial Group upgraded Nuvation Bio from a hold rating to a buy rating and lifted their price objective for the stock from $1.40 to $10.00 in a report on Wednesday, March 27th. BTIG Research upgraded Nuvation Bio from a neutral rating to a buy rating and set a $5.00 price objective for the company in a report on Tuesday, March 26th. Finally, Royal Bank of Canada lifted their price objective on Nuvation Bio from $4.00 to $5.00 and gave the stock an outperform rating in a report on Wednesday, April 17th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $6.60.

Nuvation Bio Price Performance

Shares of NYSE:NUVB opened at $3.08 on Friday. Nuvation Bio has a 1-year low of $0.95 and a 1-year high of $4.16. The business has a fifty day moving average price of $3.04 and a 200-day moving average price of $2.12. The company has a market capitalization of $761.28 million, a PE ratio of -9.94 and a beta of 1.42.

Nuvation Bio (NYSE:NUVB) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. On average, sell-side analysts anticipate that Nuvation Bio will post -0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Beacon Pointe Advisors LLC purchased a new position in Nuvation Bio in the fourth quarter worth about $33,000. Susquehanna Fundamental Investments LLC bought a new stake in Nuvation Bio during the 1st quarter worth approximately $79,000. Pinnacle Wealth Planning Services Inc. purchased a new position in Nuvation Bio during the first quarter valued at approximately $105,000. Gladius Capital Management LP increased its stake in shares of Nuvation Bio by 92.6% in the fourth quarter. Gladius Capital Management LP now owns 30,967 shares of the company’s stock worth $47,000 after purchasing an additional 14,885 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of Nuvation Bio by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 107,843 shares of the company’s stock valued at $163,000 after purchasing an additional 27,346 shares during the period. 61.67% of the stock is owned by hedge funds and other institutional investors.

Nuvation Bio Company Profile

Nuvation Bio Inc, a clinical-stage biopharmaceutical company, focuses on the development of therapeutic candidates for oncology. The company's lead product candidate is NUV-868, a BD2 selective oral small molecule BET inhibitor that epigenetically regulates proteins that control tumor growth and differentiation, including oncogenes comprising c-myc; NUV-1156, an AR binder Xtandi that address advanced stage prostate cancers with the potential to move into earlier lines typically treated with surgical prostatectomy; and drug-drug conjugate (DDC) platform which leverages a novel therapeutic approach within the drug-conjugate class of anti-cancer therapies to deliver anti-cancer therapeutics to cancer cells, as well as NUV-1176, a PARP inhibitor to address ER+ breast and ovarian cancer.