Nuvectis Pharma (NASDAQ:NVCT) Rating Lowered to Strong Sell at Zacks Research

Nuvectis Pharma (NASDAQ:NVCT) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 21st. Cantor Fitzgerald started coverage on shares of Nuvectis Pharma in a report on Monday, August 24th. They set an “overweight” rating on the stock. Loop Capital set a $40.00 price objective on Nuvectis Pharma in a report on Tuesday, September 1st. Wall Street Zen cut Nuvectis Pharma from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Lucid Cap Mkts raised shares of Nuvectis Pharma to a “strong-buy” rating in a research report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.25.

Nuvectis Pharma Price Performance

Shares of NVCT opened at $20.91 on Thursday. The firm has a market cap of $682.50 million, a P/E ratio of -11.06 and a beta of -0.21. Nuvectis Pharma has a 1 year low of $5.55 and a 1 year high of $29.27. The stock has a 50 day simple moving average of $20.89 and a two-hundred day simple moving average of $14.88.

Nuvectis Pharma (NASDAQ:NVCT) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($1.02) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.78). On average, equities analysts anticipate that Nuvectis Pharma will post -1.30 earnings per share for the current year.

Institutional Trading of Nuvectis Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. increased its stake in Nuvectis Pharma by 17.3% in the third quarter. Oppenheimer & Co. Inc. now owns 86,291 shares of the company’s stock worth $1,822,000 after purchasing an additional 12,725 shares during the period. Iridian Asset Management LLC CT boosted its stake in shares of Nuvectis Pharma by 2.1% during the 3rd quarter. Iridian Asset Management LLC CT now owns 793,207 shares of the company’s stock worth $16,753,000 after acquiring an additional 16,129 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in Nuvectis Pharma during the 2nd quarter worth $5,057,000. Stonepine Capital Management LLC bought a new stake in Nuvectis Pharma during the second quarter worth about $735,600. Finally, Bank of America Corp DE acquired a new position in shares of Nuvectis Pharma during the 2nd quarter worth $218,000. Hedge funds and other institutional investors own 96.77% of the company’s stock.

About Nuvectis Pharma

Nuvectis Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing innovative treatments for cancer, with an emphasis on cancers that have limited therapeutic options. The company is headquartered in Fort Lee, New Jersey, and its common stock trades on the Nasdaq Capital Market under the symbol NVCT.

Nuvectis Pharma’s lead product candidate is NXP800, an orally administered small-molecule inhibitor of heat shock protein 90 (HSP90). The company is evaluating NXP800 in clinical studies for certain advanced solid tumors, including platinum-resistant ovarian cancer and cholangiocarcinoma.