Nuvectis Pharma (NASDAQ:NVCT) Rating Reiterated by HC Wainwright

Nuvectis Pharma (NASDAQ:NVCT)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $21.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 229.15% from the company’s previous close.

Nuvectis Pharma Trading Down 0.8 %

Shares of NVCT opened at $6.38 on Wednesday. Nuvectis Pharma has a 12 month low of $5.92 and a 12 month high of $18.65. The firm has a fifty day simple moving average of $8.10 and a 200 day simple moving average of $8.20. The stock has a market capitalization of $117.21 million, a price-to-earnings ratio of -4.46 and a beta of 0.45.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). As a group, research analysts predict that Nuvectis Pharma will post -1.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Ron Bentsur acquired 5,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were bought at an average cost of $10.29 per share, with a total value of $51,450.00. Following the completion of the transaction, the chief executive officer now directly owns 3,242,484 shares of the company’s stock, valued at $33,365,160.36. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 38.85% of the company’s stock.

Hedge Funds Weigh In On Nuvectis Pharma

Hedge funds have recently bought and sold shares of the business. Strs Ohio grew its position in shares of Nuvectis Pharma by 178.6% during the 3rd quarter. Strs Ohio now owns 3,900 shares of the company’s stock worth $50,000 after purchasing an additional 2,500 shares in the last quarter. Baldwin Brothers LLC MA grew its position in Nuvectis Pharma by 22.0% during the fourth quarter. Baldwin Brothers LLC MA now owns 142,040 shares of the company’s stock worth $1,185,000 after buying an additional 25,660 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in Nuvectis Pharma during the 4th quarter worth $160,000. Finally, Blue Zone Wealth Advisors LLC acquired a new position in Nuvectis Pharma in the 1st quarter valued at $118,000. 96.77% of the stock is owned by institutional investors.

Nuvectis Pharma Company Profile

Nuvectis Pharma, Inc, a biopharmaceutical company, focuses on the development of precision medicines for the treatment of serious unmet medical needs in oncology. The company's lead product candidate is NXP800, a novel small molecule that is in Phase 1b clinical trials for the treatment of patients with platinum-resistant, ARID1a-mutated ovarian carcinoma.