Nuvectis Pharma, Inc. (NASDAQ:NVCT) Stock Has Average Target Price of $36.25 According to Brokerages

Shares of Nuvectis Pharma, Inc. (NASDAQ:NVCT) have been assigned a consensus rating of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $36.25.

Several research firms have recently issued reports on NVCT. Lucid Cap Mkts upgraded Nuvectis Pharma to a “strong-buy” rating in a report on Tuesday, September 1st. HC Wainwright reiterated a “buy” rating and issued a $39.00 target price on shares of Nuvectis Pharma in a research note on Thursday, September 24th. Loop Capital set a $40.00 target price on Nuvectis Pharma in a research report on Tuesday, September 1st. Cantor Fitzgerald began coverage on Nuvectis Pharma in a research note on Monday, August 24th. They issued an “overweight” rating on the stock. Finally, UBS Group set a $33.00 price target on Nuvectis Pharma in a report on Monday, July 6th.

Nuvectis Pharma Price Performance

NASDAQ:NVCT opened at $20.72 on Tuesday. The firm has a 50 day simple moving average of $21.80 and a 200-day simple moving average of $15.63. The firm has a market cap of $676.30 million, a PE ratio of -15.82 and a beta of -0.24. Nuvectis Pharma has a 1-year low of $5.55 and a 1-year high of $29.27.

Nuvectis Pharma (NASDAQ:NVCT) last announced its earnings results on Tuesday, August 4th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.04). As a group, sell-side analysts expect that Nuvectis Pharma will post -1.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nuvectis Pharma

A number of institutional investors have recently bought and sold shares of NVCT. BlackRock Inc. purchased a new position in Nuvectis Pharma during the second quarter worth approximately $18,414,000. Alyeska Investment Group L.P. acquired a new position in shares of Nuvectis Pharma in the 2nd quarter valued at $5,057,000. Occam Crest Management LP grew its stake in shares of Nuvectis Pharma by 31.0% during the 4th quarter. Occam Crest Management LP now owns 380,000 shares of the company’s stock valued at $2,869,000 after buying an additional 90,000 shares during the period. Stonepine Capital Management LLC purchased a new stake in shares of Nuvectis Pharma during the 2nd quarter valued at $735,600. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Nuvectis Pharma during the 2nd quarter worth $676,000. 96.77% of the stock is currently owned by hedge funds and other institutional investors.

About Nuvectis Pharma

Nuvectis Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing innovative treatments for cancer and other serious diseases with limited therapeutic options. The company’s research and development efforts are centered on small-molecule medicines designed to target biological pathways involved in tumor growth and treatment resistance.

Nuvectis’ lead programs include NXP800, an investigational inhibitor of the heat shock factor 1 pathway being evaluated for potential use in selected solid tumors, and NXP900, an investigational inhibitor of the SRC and YES1 protein kinases.