Nuvation Bio (NYSE:NUVB) Issues Quarterly Earnings Results

Nuvation Bio (NYSE:NUVB) announced its quarterly earnings results on Wednesday. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02), Zacks reports. The firm had revenue of $0.73 million during the quarter.

Nuvation Bio Stock Up 2.8 %

Nuvation Bio stock opened at $2.61 on Friday. Nuvation Bio has a 52-week low of $1.21 and a 52-week high of $4.16. The company has a market cap of $650.53 million, a P/E ratio of -1.24 and a beta of 1.35. The business has a 50-day simple moving average of $2.56 and a two-hundred day simple moving average of $2.90.

Analyst Ratings Changes

A number of equities analysts have weighed in on NUVB shares. Wedbush reissued an “outperform” rating and issued a $5.00 target price on shares of Nuvation Bio in a research report on Thursday. Royal Bank of Canada boosted their price objective on shares of Nuvation Bio from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Thursday. Finally, HC Wainwright lowered their price objective on shares of Nuvation Bio from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $6.60.

Insider Transactions at Nuvation Bio

In related news, Director Robert Mashal acquired 100,000 shares of Nuvation Bio stock in a transaction dated Tuesday, October 8th. The stock was purchased at an average cost of $2.20 per share, for a total transaction of $220,000.00. Following the purchase, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $220,000. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.07% of the company’s stock.

Nuvation Bio Company Profile

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.