Nuformix (LON:NFX) Stock Price Up 1.4% – Should You Buy?

Shares of Nuformix plc (LON:NFX) rose 1.4% during mid-day trading on Tuesday . The company traded as high as GBX 0.14 ($0.00) and last traded at GBX 0.14 ($0.00). Approximately 7,782,028 shares changed hands during trading, a decline of 84% from the average daily volume of 50,092,891 shares. The stock had previously closed at GBX 0.14 ($0.00).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group began coverage on Nuformix in a research note on Tuesday, March 18th. They set a “buy” rating and a GBX 293 ($3.89) target price on the stock.

Nuformix Stock Performance

The stock has a 50 day moving average of GBX 0.11 and a 200-day moving average of GBX 0.08. The company has a market cap of £1.50 million, a PE ratio of -3.71 and a beta of 1.22.

Nuformix (LON:NFX) last posted its quarterly earnings data on Friday, May 2nd. The company reported GBX 0.03 ($0.00) earnings per share (EPS) for the quarter.

About Nuformix

Nuformix plc operates in the field of pharmaceutical development for treating fibrosis and oncology through drug repurposing in the United Kingdom. It offers NXP001, which has completed Phase 1 for use in oncology supportive care. The company is also developing NXP004, a novel form of Olaparib, which is in the IP generation phase for treating oncology; and NXP002 that is in pre-clinical stage for the treatment of idiopathic pulmonary fibrosis.