Maxim Group Begins Coverage on Nuvectis Pharma (NASDAQ:NVCT)

Maxim Group assumed coverage on shares of Nuvectis Pharma (NASDAQ:NVCT) in a research report issued on Wednesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $17.00 price target on the stock. Maxim Group’s price objective points to a potential upside of 81.82% from the stock’s previous close.

NVCT has been the topic of a number of other reports. Laidlaw assumed coverage on shares of Nuvectis Pharma in a research note on Monday, March 17th. They issued a “buy” rating and a $19.00 price objective on the stock. HC Wainwright lowered their target price on shares of Nuvectis Pharma from $21.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th.

Nuvectis Pharma Price Performance

Shares of Nuvectis Pharma stock opened at $9.35 on Wednesday. The business has a 50-day simple moving average of $7.53 and a 200 day simple moving average of $6.65. The firm has a market capitalization of $218.72 million, a price-to-earnings ratio of -8.06 and a beta of 0.23. Nuvectis Pharma has a one year low of $4.44 and a one year high of $11.80.

Nuvectis Pharma (NASDAQ:NVCT) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.08). On average, sell-side analysts expect that Nuvectis Pharma will post -1.01 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Marlio Charles Mosseri acquired 240,000 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was purchased at an average price of $5.00 per share, for a total transaction of $1,200,000.00. Following the purchase, the insider now owns 2,884,121 shares in the company, valued at approximately $14,420,605. This represents a 9.08 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 35.78% of the company’s stock.

Hedge Funds Weigh In On Nuvectis Pharma

Institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. bought a new stake in Nuvectis Pharma during the fourth quarter worth $135,000. Baldwin Wealth Partners LLC MA increased its position in shares of Nuvectis Pharma by 104.4% during the 4th quarter. Baldwin Wealth Partners LLC MA now owns 355,961 shares of the company’s stock valued at $1,926,000 after purchasing an additional 181,831 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Nuvectis Pharma by 49.8% during the 3rd quarter. Geode Capital Management LLC now owns 79,716 shares of the company’s stock worth $501,000 after purchasing an additional 26,489 shares during the period. Nations Financial Group Inc. IA ADV boosted its holdings in shares of Nuvectis Pharma by 35.0% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 13,500 shares of the company’s stock worth $73,000 after buying an additional 3,500 shares during the last quarter. Finally, Baxter Bros Inc. boosted its holdings in shares of Nuvectis Pharma by 20.0% in the 4th quarter. Baxter Bros Inc. now owns 15,000 shares of the company’s stock worth $81,000 after buying an additional 2,500 shares during the last quarter. 96.77% of the stock is owned by institutional investors.

About Nuvectis Pharma

Nuvectis Pharma, Inc, a biopharmaceutical company, focuses on the development of precision medicines for the treatment of serious unmet medical needs in oncology. The company's lead product candidate is NXP800, a novel small molecule that is in Phase 1b clinical trials for the treatment of patients with platinum-resistant, ARID1a-mutated ovarian carcinoma.