What is Wedbush’s Estimate for Nuvation Bio Q3 Earnings?

Nuvation Bio Inc. (NYSE:NUVB) – Stock analysts at Wedbush raised their Q3 2024 EPS estimates for shares of Nuvation Bio in a report released on Tuesday, October 22nd. Wedbush analyst D. Nierengarten now anticipates that the company will earn ($0.12) per share for the quarter, up from their prior forecast of ($0.16). Wedbush has a “Outperform” rating and a $5.00 price target on the stock. The consensus estimate for Nuvation Bio’s current full-year earnings is ($0.41) per share. Wedbush also issued estimates for Nuvation Bio’s Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($0.24) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at ($0.14) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.19) EPS, FY2025 earnings at ($0.62) EPS, FY2026 earnings at ($0.58) EPS and FY2027 earnings at ($0.32) EPS.

Nuvation Bio (NYSE:NUVB) last announced its earnings results on Monday, August 5th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.09). The firm had revenue of $1.44 million for the quarter.

Several other research firms have also recently commented on NUVB. Royal Bank of Canada restated an “outperform” rating and set a $5.00 price target on shares of Nuvation Bio in a research note on Tuesday, August 6th. HC Wainwright dropped their price objective on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $6.40.

Nuvation Bio Trading Down 4.8 %

Nuvation Bio stock opened at $2.19 on Thursday. The stock has a 50 day moving average of $2.68 and a two-hundred day moving average of $2.94. Nuvation Bio has a twelve month low of $0.95 and a twelve month high of $4.16. The stock has a market capitalization of $545.84 million, a price-to-earnings ratio of -1.04 and a beta of 1.36.

Insider Activity at Nuvation Bio

In other Nuvation Bio news, Director Robert Mashal acquired 100,000 shares of the business’s stock in a transaction on Tuesday, October 8th. The stock was purchased at an average price of $2.20 per share, for a total transaction of $220,000.00. Following the completion of the transaction, the director now owns 100,000 shares of the company’s stock, valued at $220,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.07% of the company’s stock.

Institutional Trading of Nuvation Bio

Institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its stake in Nuvation Bio by 551.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,354,632 shares of the company’s stock valued at $4,932,000 after acquiring an additional 1,146,794 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Nuvation Bio by 415.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,018,329 shares of the company’s stock valued at $2,975,000 after purchasing an additional 820,669 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Nuvation Bio by 254.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 748,793 shares of the company’s stock worth $2,726,000 after purchasing an additional 537,314 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Nuvation Bio by 81.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,174,464 shares of the company’s stock worth $4,273,000 after purchasing an additional 528,660 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its stake in Nuvation Bio by 198.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 633,676 shares of the company’s stock valued at $1,850,000 after buying an additional 421,563 shares in the last quarter. Hedge funds and other 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.