Nuvation Bio (NYSE:NUVB) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Nuvation Bio (NYSE:NUVB - Get Free Report) posted its earnings results on Thursday. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01), Zacks reports. The business had revenue of $5.71 million during the quarter.

Nuvation Bio Price Performance

Shares of NUVB traded down $0.15 during mid-day trading on Monday, hitting $1.88. 3,379,413 shares of the company's stock were exchanged, compared to its average volume of 2,530,605. Nuvation Bio has a 52 week low of $1.67 and a 52 week high of $4.16. The company has a market cap of $631.06 million, a PE ratio of -0.86 and a beta of 1.47. The company has a 50-day simple moving average of $2.41 and a 200 day simple moving average of $2.58.

Wall Street Analyst Weigh In

NUVB has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an "outperform" rating and set a $10.00 price objective (up previously from $6.00) on shares of Nuvation Bio in a report on Tuesday, January 7th. HC Wainwright cut their price target on shares of Nuvation Bio from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Wedbush reissued an "outperform" rating and set a $5.00 price objective on shares of Nuvation Bio in a research report on Monday, March 3rd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $8.00.

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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.