Nuvectis Pharma (NASDAQ:NVCT) Stock Price Crosses Above Fifty Day Moving Average After Analyst Downgrade

Nuvectis Pharma, Inc. (NASDAQ:NVCT) passed above its 50 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 50 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.

Other equities analysts have also issued reports about the company. Cantor Fitzgerald began coverage on Nuvectis Pharma in a research report on Monday, August 24th. They set an “overweight” rating for the company. HC Wainwright upped their price target on Nuvectis Pharma from $13.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. UBS Group set a $33.00 price target on shares of Nuvectis Pharma in a research report on Monday, July 6th. Loop Capital set a $40.00 price objective on shares of Nuvectis Pharma in a research note on Tuesday, September 1st. Finally, Lucid Cap Mkts upgraded shares of Nuvectis Pharma to a “strong-buy” rating in a report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.25.

Institutional Investors Weigh In On Nuvectis Pharma

A number of hedge funds have recently modified their holdings of NVCT. BlackRock Inc. bought a new position in shares of Nuvectis Pharma during the second quarter worth about $18,414,000. Alyeska Investment Group L.P. acquired a new stake in Nuvectis Pharma in the 2nd quarter valued at approximately $5,057,000. Stonepine Capital Management LLC bought a new stake in Nuvectis Pharma in the 2nd quarter valued at approximately $735,600. Bank of New York Mellon Corp bought a new stake in Nuvectis Pharma in the 2nd quarter valued at approximately $676,000. Finally, Deutsche Bank AG bought a new stake in Nuvectis Pharma in the 2nd quarter valued at approximately $310,000. Institutional investors and hedge funds own 96.77% of the company’s stock.

Nuvectis Pharma Stock Performance

The business has a 50-day simple moving average of $20.89 and a two-hundred day simple moving average of $14.88. The stock has a market cap of $719.09 million, a price-to-earnings ratio of -11.06 and a beta of -0.21.

Nuvectis Pharma (NASDAQ:NVCT) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.78). On average, analysts expect that Nuvectis Pharma, Inc. will post -1.62 earnings per share for the current fiscal year.

Nuvectis Pharma Company Profile

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.