Nuvectis Pharma (NASDAQ:NVCT) Shares Climb 12.5% – Still a Buy?

Nuvectis Pharma, Inc. (NASDAQ:NVCT) shares were up 12.5% during trading on Friday. The stock traded as high as $19.89 and last traded at $19.9810. Approximately 48,170 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 174,479 shares. The stock had previously closed at $17.76.

Wall Street Analyst Weigh In

NVCT has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating and set a $39.00 price target on shares of Nuvectis Pharma in a research report on Thursday, September 24th. Weiss Ratings upgraded Nuvectis Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, September 21st. Loop Capital set a $40.00 price objective on Nuvectis Pharma in a research report on Tuesday, September 1st. Lucid Cap Mkts raised Nuvectis Pharma to a “strong-buy” rating in a research note on Tuesday, September 1st. Finally, Cantor Fitzgerald started coverage on Nuvectis Pharma in a report on Monday, August 24th. They set an “overweight” rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.25.

Nuvectis Pharma Stock Up 13.9%

The firm has a market cap of $660.06 million, a price-to-earnings ratio of -10.74 and a beta of -0.21. The business’s fifty day moving average is $20.98 and its two-hundred day moving average is $14.81.

Nuvectis Pharma (NASDAQ:NVCT) last posted its quarterly earnings data 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). Research analysts forecast that Nuvectis Pharma, Inc. will post -1.01 EPS for the current year.

Institutional Investors Weigh In On Nuvectis Pharma

A number of institutional investors and hedge funds have recently made changes to their positions in NVCT. Oppenheimer & Co. Inc. raised its holdings in Nuvectis Pharma by 17.3% during the 3rd 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 last quarter. Iridian Asset Management LLC CT grew its position 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 buying an additional 16,129 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Nuvectis Pharma during the second quarter worth approximately $5,057,000. Stonepine Capital Management LLC bought a new stake in shares of Nuvectis Pharma during the second quarter worth approximately $735,600. Finally, Bank of America Corp DE acquired a new position in Nuvectis Pharma in the second quarter valued at approximately $218,000. 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.