Nuvation Bio (NYSE:NUVB) Rating Increased to Buy at Jefferies Financial Group

Nuvation Bio (NYSE:NUVB) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has a $10.00 price objective on the stock, up from their prior price objective of $1.40. Jefferies Financial Group’s price target would indicate a potential upside of 174.73% from the stock’s previous close.

Several other research analysts have also commented on NUVB. BTIG Research raised 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. HC Wainwright boosted their target price on Nuvation Bio from $4.50 to $5.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research report on Friday, March 1st.

Nuvation Bio Stock Performance

Shares of NUVB opened at $3.64 on Wednesday. The business has a 50-day moving average of $2.01 and a 200 day moving average of $1.57. Nuvation Bio has a fifty-two week low of $0.95 and a fifty-two week high of $4.16. The firm has a market cap of $793.69 million, a P/E ratio of -10.71 and a beta of 1.19.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. As a group, research analysts predict that Nuvation Bio will post -0.36 earnings per share for the current fiscal year.

Institutional Trading of Nuvation Bio

A number of hedge funds have recently bought and sold shares of NUVB. Centiva Capital LP bought a new stake in Nuvation Bio in the fourth quarter valued at approximately $26,000. Quantbot Technologies LP lifted its position in Nuvation Bio by 147.7% in the first quarter. Quantbot Technologies LP now owns 13,383 shares of the company’s stock valued at $70,000 after purchasing an additional 7,981 shares during the last quarter. Royal Bank of Canada lifted its position in Nuvation Bio by 133.4% in the second quarter. Royal Bank of Canada now owns 15,199 shares of the company’s stock valued at $27,000 after purchasing an additional 8,687 shares during the last quarter. Virtu Financial LLC bought a new stake in Nuvation Bio in the fourth quarter valued at approximately $31,000. Finally, Raymond James & Associates lifted its position in Nuvation Bio by 28.9% in the first quarter. Raymond James & Associates now owns 16,060 shares of the company’s stock valued at $84,000 after purchasing an additional 3,600 shares during the last quarter. Institutional investors own 61.67% of the company’s stock.

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.