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

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

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

Nuvectis Pharma Trading Up 17.7%

Shares of NASDAQ:NVCT opened at $20.91 on Thursday. The company has a 50 day moving average of $20.89 and a 200-day moving average of $14.88. Nuvectis Pharma has a twelve month low of $5.55 and a twelve month high of $29.27. 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 (NASDAQ:NVCT) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($1.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.78). Equities research analysts forecast that Nuvectis Pharma will post -1.30 EPS for the current year.

Hedge Funds Weigh In On Nuvectis Pharma

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Nuvectis Pharma in the second quarter worth approximately $18,414,000. Iridian Asset Management LLC CT raised its position in Nuvectis Pharma by 2.1% in the third quarter. Iridian Asset Management LLC CT now owns 793,207 shares of the company’s stock valued at $16,753,000 after purchasing an additional 16,129 shares during the period. Alyeska Investment Group L.P. purchased a new position in shares of Nuvectis Pharma during the second quarter worth about $5,057,000. Oppenheimer & Co. Inc. increased its holdings in Nuvectis Pharma by 17.3% in the third quarter. Oppenheimer & Co. Inc. now owns 86,291 shares of the company’s stock valued at $1,822,000 after buying an additional 12,725 shares in the last quarter. Finally, Stonepine Capital Management LLC acquired a new position in shares of Nuvectis Pharma during the 2nd quarter valued at about $735,600. 96.77% of the stock is owned by hedge funds and other institutional investors.

Nuvectis Pharma Company Profile

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.