FY2024 EPS Estimate for Nuvation Bio Increased by Analyst

Nuvation Bio Inc. (NYSE:NUVB - Free Report) - Equities researchers at HC Wainwright lifted their FY2024 EPS estimates for Nuvation Bio in a note issued to investors on Monday, January 6th. HC Wainwright analyst R. Burns now expects that the company will post earnings per share of ($0.37) for the year, up from their previous forecast of ($0.50). HC Wainwright has a "Buy" rating and a $7.00 price objective on the stock. The consensus estimate for Nuvation Bio's current full-year earnings is ($0.40) per share. HC Wainwright also issued estimates for Nuvation Bio's Q4 2024 earnings at ($0.14) EPS, Q1 2025 earnings at ($0.15) EPS, Q3 2025 earnings at ($0.14) EPS, Q4 2025 earnings at ($0.12) EPS and FY2025 earnings at ($0.56) EPS.

Nuvation Bio (NYSE:NUVB - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.02). The business had revenue of $0.73 million for the quarter.

A number of other equities analysts have also recently weighed in on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $10.00 price target (up from $6.00) on shares of Nuvation Bio in a report on Tuesday. Wedbush reaffirmed an "outperform" rating and set a $5.00 target price on shares of Nuvation Bio in a research note on Monday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $7.40.

Nuvation Bio Stock Down 7.7 %

Shares of NUVB traded down $0.25 during midday trading on Thursday, reaching $3.00. The company had a trading volume of 3,423,272 shares, compared to its average volume of 3,622,894. Nuvation Bio has a 1-year low of $1.43 and a 1-year high of $4.16. The firm has a 50 day simple moving average of $2.75 and a 200-day simple moving average of $2.83. The stock has a market cap of $1.01 billion, a PE ratio of -1.38 and a beta of 1.47.

Institutional Investors Weigh In On Nuvation Bio

A number of institutional investors and hedge funds have recently made changes to their positions in NUVB. B. Riley Wealth Advisors Inc. acquired a new position in shares of Nuvation Bio during the second quarter worth about $29,000. EverSource Wealth Advisors LLC increased its position in 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 during the period. Xponance Inc. purchased a new position in shares of Nuvation Bio during the 2nd quarter worth approximately $33,000. Caxton Associates LP acquired a new stake in shares of Nuvation Bio in the 2nd quarter valued at approximately $43,000. Finally, Choreo LLC purchased a new stake in shares of Nuvation Bio in the second quarter valued at approximately $47,000. 61.67% of the stock is owned by hedge funds and other institutional investors.

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.