Wedbush Analysts Boost Earnings Estimates for Nuvation Bio

Nuvation Bio Inc. (NYSE:NUVB - Free Report) - Wedbush boosted their Q3 2024 earnings per share estimates for Nuvation Bio in a research note issued on Tuesday, October 22nd. Wedbush analyst D. Nierengarten now expects that the company will earn ($0.12) per share for the quarter, up from their previous estimate 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.

A number of other research analysts have also issued reports on NUVB. Royal Bank of Canada reiterated 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 cut their target price on shares of Nuvation Bio from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Monday, September 16th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $6.40.

Nuvation Bio Stock Performance

NUVB traded down $0.04 on Thursday, reaching $2.30. The company's stock had a trading volume of 628,892 shares, compared to its average volume of 1,655,258. Nuvation Bio has a fifty-two week low of $0.95 and a fifty-two week high of $4.16. The stock has a 50 day moving average of $2.69 and a two-hundred day moving average of $2.95.

Nuvation Bio (NYSE:NUVB - Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.09). The business had revenue of $1.44 million during the quarter.

Insider Activity

In related news, Director Robert Mashal acquired 100,000 shares of the firm's stock in a transaction on Tuesday, October 8th. The stock was bought at an average cost of $2.20 per share, with a total value of $220,000.00. Following the acquisition, the director now directly owns 100,000 shares in the company, valued at approximately $220,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 business. B. Riley Wealth Advisors Inc. bought a new position in Nuvation Bio in the 2nd quarter worth about $29,000. EverSource Wealth Advisors LLC raised its stake in Nuvation Bio by 913.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 11,095 shares of the company's stock valued at $32,000 after acquiring an additional 10,000 shares in the last quarter. Xponance Inc. bought a new stake in Nuvation Bio during the 2nd quarter valued at $33,000. Caxton Associates LP acquired a new position in Nuvation Bio during the 2nd quarter worth $43,000. Finally, Choreo LLC bought a new position in shares of Nuvation Bio in the second 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.