Lucid Cap Mkts Upgrades Nuvectis Pharma (NASDAQ:NVCT) to Strong-Buy

Nuvectis Pharma (NASDAQ:NVCT) was upgraded by equities researchers at Lucid Cap Mkts to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks reports.

A number of other equities research analysts also recently weighed in on NVCT. Weiss Ratings raised shares of Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 20th. Roth Capital increased their price target on shares of Nuvectis Pharma from $20.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Wall Street Zen raised shares of Nuvectis Pharma from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. UBS Group set a $33.00 target price on Nuvectis Pharma in a research note on Monday, July 6th. Finally, Cantor Fitzgerald assumed coverage on Nuvectis Pharma in a research report on Monday, August 24th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.25.

Nuvectis Pharma Stock Up 1.9%

Shares of NASDAQ NVCT opened at $24.37 on Tuesday. The firm has a market capitalization of $795.44 million, a P/E ratio of -18.60 and a beta of -0.26. The stock’s 50-day simple moving average is $20.89 and its two-hundred day simple moving average is $13.76. Nuvectis Pharma has a twelve month low of $5.55 and a twelve month high of $29.27.

Nuvectis Pharma (NASDAQ:NVCT) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.04). As a group, research analysts anticipate that Nuvectis Pharma will post -1.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ron Bentsur acquired 12,500 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $250,000.00. Following the completion of the acquisition, the chief executive officer owned 3,688,424 shares in the company, valued at $73,768,480. This trade represents a 0.34% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Marlio Charles Mosseri acquired 50,000 shares of the stock in a transaction on Tuesday, June 30th. The shares were purchased at an average cost of $18.32 per share, with a total value of $916,000.00. Following the transaction, the insider directly owned 3,186,576 shares of the company’s stock, valued at approximately $58,378,072.32. This trade represents a 1.59% increase in their position. The SEC filing for this purchase provides additional information. 28.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Nuvectis Pharma

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE boosted its position in shares of Nuvectis Pharma by 10.2% in the 1st quarter. Bank of America Corp DE now owns 14,847 shares of the company’s stock worth $115,000 after purchasing an additional 1,377 shares in the last quarter. Legal & General Group Plc bought a new position in Nuvectis Pharma during the 2nd quarter valued at approximately $31,000. California State Teachers Retirement System raised its stake in Nuvectis Pharma by 376.8% during the second quarter. California State Teachers Retirement System now owns 3,991 shares of the company’s stock valued at $73,000 after buying an additional 3,154 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in Nuvectis Pharma by 6.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 73,566 shares of the company’s stock valued at $555,000 after buying an additional 4,500 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Nuvectis Pharma by 31.3% in the fourth quarter. Barclays PLC now owns 24,185 shares of the company’s stock worth $183,000 after acquiring an additional 5,760 shares in the last quarter. Institutional investors own 96.77% of the company’s stock.

Nuvectis Pharma Company Profile

Nuvectis Pharma is a clinical-stage biotechnology company focused on the development of novel peptide-based therapeutics using its proprietary Cellporting delivery platform. The company’s core technology is designed to facilitate the transport of therapeutic proteins and peptides across cellular membranes and into target intracellular compartments, including the nucleus. By overcoming a key barrier in biologics delivery, Nuvectis aims to expand the range of treatable diseases with macromolecular drugs that have traditionally been limited by poor cellular uptake.

The Nuvectis pipeline encompasses multiple preclinical and early-stage clinical programs targeting rare genetic and metabolic disorders.