Nuvation Bio (NUVB) Jumps to 3-Year High on Bullish Coverage

We recently published 10 Stocks Beating Wall Street at its Own Game. Nuvation Bio Inc. (NYSE:NUVB) is one of the best-performing stocks on Wednesday.

Nuvation Bio saw its share prices jump to a new three-year high on Wednesday, as investors took path from an investment firm’s bullish coverage for its stock.

At intra-day trading, the stock soared to its highest price of $7.35 before paring gains to end the day just up by 48.96 percent at $7.15 apiece.

In its first coverage for Nuvation Bio Inc. (NYSE:NUVB), B. Riley gave the stock a “buy” recommendation with a price target of $12, or an X percent upside potential from its latest closing price, over confidence for the successful commercial rollout of the Ibtrozi (taletrectinib) drug to treat a type of lung cancer.

Having secured the approval of the Food and Drug Administration (FDA) in June, and the initial rollout of the drug, Nuvation Bio Inc. (NYSE:NUVB) said that it has already recorded nearly 204 patients that started the treatment.

B. Riley expects the listed firm to generate revenues as much as $168 million in 2026, and $302 million in 2027, from the said treatment.

In other news, Nuvation Bio Inc. (NYSE:NUVB) said that it widened its net loss in the third quarter of the year by 35 percent to $55.79 million from $41.21 million in the same period last year, pulled down by a 17 percent higher operating loss and expenses.

Revenues, on the other hand, soared by 1,704 percent to $13 million from only $727,000 in the same comparable period.

While we acknowledge the potential of NUVB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.