Nuvation Bio (NYSE:NUVB) Upgraded to Buy by Jefferies Financial Group

Jefferies Financial Group upgraded shares of Nuvation Bio (NYSE:NUVB) from a hold rating to a buy rating in a research report report published on Wednesday, MarketBeat reports. Jefferies Financial Group currently has $10.00 price target on the stock, up from their previous price target of $1.40.

Other research analysts have also issued reports about the stock. BTIG Research raised shares of Nuvation Bio from a neutral rating to a buy rating and set a $5.00 target price for the company in a report on Tuesday. Wedbush reissued an outperform rating and issued a $5.00 target price on shares of Nuvation Bio in a report on Friday, March 1st. Finally, HC Wainwright raised their target price on shares of Nuvation Bio from $4.50 to $5.00 and gave the company a buy rating in a report on Thursday, March 7th.

Nuvation Bio Price Performance

Nuvation Bio stock opened at $3.96 on Wednesday. The stock has a market cap of $863.48 million, a P/E ratio of -11.65 and a beta of 1.19. Nuvation Bio has a 1 year low of $0.95 and a 1 year high of $4.06. The firm’s 50 day moving average price is $1.97 and its 200-day moving average price is $1.56.

Nuvation Bio (NYSE:NUVB) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. As a group, equities analysts expect that Nuvation Bio will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Nuvation Bio by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,314,615 shares of the company’s stock valued at $11,045,000 after acquiring an additional 18,457 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Nuvation Bio by 92.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 794,108 shares of the company’s stock valued at $1,199,000 after acquiring an additional 381,555 shares in the last quarter. Octagon Capital Advisors LP bought a new stake in shares of Nuvation Bio in the fourth quarter valued at about $1,510,000. Brevan Howard Capital Management LP bought a new stake in shares of Nuvation Bio in the fourth quarter valued at about $49,000. Finally, Royal Bank of Canada raised its holdings in Nuvation Bio by 173.0% in the fourth quarter. Royal Bank of Canada now owns 66,895 shares of the company’s stock worth $101,000 after purchasing an additional 42,392 shares in the last quarter. 61.67% of the stock is owned by hedge funds and other institutional investors.

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.