Nuvectis Pharma, Inc. (NASDAQ:NVCT) Stock Rated “Moderate Buy” by Wall Street Brokerages

Nuvectis Pharma, Inc. (NASDAQ:NVCT) has received an average rating of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $36.25.

A number of analysts recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $39.00 target price on shares of Nuvectis Pharma in a research note on Thursday, September 24th. Weiss Ratings upgraded shares of Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 21st. Lucid Cap Mkts upgraded shares of Nuvectis Pharma to a “strong-buy” rating in a report on Tuesday, September 1st. Cantor Fitzgerald started coverage on shares of Nuvectis Pharma in a report on Monday, August 24th. They issued an “overweight” rating on the stock. Finally, UBS Group set a $33.00 price objective on shares of Nuvectis Pharma in a research report on Monday, July 6th.

Nuvectis Pharma Trading Down 2.4%

Shares of NASDAQ NVCT opened at $21.39 on Tuesday. The stock has a market cap of $698.17 million, a P/E ratio of -16.33 and a beta of -0.24. The business’s fifty day simple moving average is $21.89 and its 200-day simple moving average is $15.81. Nuvectis Pharma has a 12-month low of $5.55 and a 12-month high of $29.27.

Nuvectis Pharma (NASDAQ:NVCT) last released its earnings results on Tuesday, August 4th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.04). On average, equities analysts forecast that Nuvectis Pharma will post -1.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Nuvectis Pharma during the 2nd quarter worth about $18,414,000. Occam Crest Management LP boosted its holdings in Nuvectis Pharma by 31.0% in the fourth quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock valued at $2,869,000 after purchasing an additional 90,000 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in Nuvectis Pharma in the second quarter valued at approximately $5,057,000. Stonepine Capital Management LLC purchased a new position in Nuvectis Pharma in the second quarter valued at approximately $735,600. Finally, Bank of New York Mellon Corp purchased a new position in Nuvectis Pharma in the second quarter valued at approximately $676,000. 96.77% of the stock is owned by institutional investors and hedge funds.

About Nuvectis Pharma

Nuvectis Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing innovative therapies for patients with cancer and other serious unmet medical needs. The company’s research and development programs are centered on novel small-molecule medicines designed to target biological pathways involved in tumor growth and treatment resistance.

Nuvectis’ lead product candidate, NXP800, is an orally administered investigational inhibitor of the heat shock factor 1 pathway. It is being evaluated in clinical studies for advanced solid tumors, including ovarian cancer and other tumor types in which this pathway may play a role.