Nuvation Bio (NYSE:NUVB) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Nuvation Bio (NYSE:NUVB) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $11.00 price target on the stock.

According to Zacks, “Nuvation Bio Inc. is a biopharmaceutical company. It engages in developing differentiated and novel therapeutic candidates for unmet needs in oncology. Nuvation Bio Inc., formerly known as Panacea Acquisition Corp., is based in NEW YORK. “

Shares of NUVB opened at $9.78 on Wednesday. The company has a market capitalization of $2.13 billion and a P/E ratio of -42.52. The firm has a 50 day moving average of $9.41 and a 200 day moving average of $9.71. Nuvation Bio has a twelve month low of $7.66 and a twelve month high of $15.23.

Nuvation Bio (NYSE:NUVB) last announced its quarterly earnings results on Wednesday, August 11th. The company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. As a group, equities analysts predict that Nuvation Bio will post -0.45 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. Ikarian Capital LLC bought a new stake in Nuvation Bio in the 1st quarter worth approximately $2,613,000. Rhumbline Advisers bought a new stake in Nuvation Bio in the 2nd quarter worth approximately $323,000. Goldman Sachs Group Inc. bought a new stake in Nuvation Bio in the 1st quarter worth approximately $2,302,000. Alyeska Investment Group L.P. bought a new stake in Nuvation Bio in the 1st quarter worth approximately $10,450,000. Finally, AWM Investment Company Inc. grew its position in Nuvation Bio by 2.3% in the 2nd quarter. AWM Investment Company Inc. now owns 446,024 shares of the company’s stock worth $4,152,000 after purchasing an additional 10,200 shares during the period. 55.03% of the stock is owned by institutional investors and hedge funds.

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-422, a small molecule inhibitor targeting CDK2, CDK4, and CDK6. It is also developing NUV-868, a selective inhibitor of the BET family of epigenetic transcriptional regulators; NUV-569, a differentiated selective inhibitor of the Wee1 kinase; NUV-1182, an adenosine receptor inhibitor; and DDC platform that focuses on targeting an inhibitor of poly ADP ribose polymerase (PARP) to androgen receptor-expressing cancer cells , as well as PARP inhibitor to ER-expressing cancer cells.

See Also: Debt-To-Equity Ratio

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Analyst Recommendations for Nuvation Bio (NYSE:NUVB)

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