Nuvation Bio price target raised to $5 from $4.50 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Nuvation Bio to $5 from $4.50 and keeps a Buy rating on the shares following the Q4 report. While the company’s near-term catalysts may not prove to be significant value inflection points due to the early-stage status of the assets, “bargain-hunting remains rife in the biotechnology sector and Nuvation Bio remains at a negative enterprise value,” the analyst tells investors in a research note.