Nuvation Bio (NYSE:NUVB) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Nuvation Bio (NYSE:NUVB) in a report published on Tuesday morning,Benzinga reports. They currently have a $10.00 target price on the stock, up from their previous target price of $6.00.

Other research analysts have also issued reports about the company. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Nuvation Bio in a report on Monday. Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Nuvation Bio in a research report on Monday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $7.40.

Nuvation Bio Trading Down 7.7 %

NYSE NUVB opened at $3.00 on Tuesday. The company has a market cap of $1.01 billion, a PE ratio of -1.38 and a beta of 1.47. Nuvation Bio has a 12 month low of $1.43 and a 12 month high of $4.16. The stock has a 50 day moving average of $2.75 and a 200-day moving average of $2.83.

Nuvation Bio (NYSE:NUVB) last issued its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $0.73 million for the quarter. As a group, sell-side analysts predict that Nuvation Bio will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. acquired a new position in shares of Nuvation Bio in the second quarter valued at about $29,000. EverSource Wealth Advisors LLC grew its position in shares of Nuvation Bio by 913.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company’s stock worth $32,000 after purchasing an additional 10,000 shares in the last quarter. Xponance Inc. bought a new stake in shares of Nuvation Bio in the second quarter valued at approximately $33,000. Caxton Associates LP acquired a new stake in Nuvation Bio during the second quarter worth approximately $43,000. Finally, Choreo LLC bought a new position in Nuvation Bio during the 2nd quarter worth $47,000. Institutional investors own 61.67% of the company’s stock.

About Nuvation Bio

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.