HC Wainwright initiated coverage on shares of NuCana (NASDAQ:NCNA) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 164.90% from the stock’s current price.
The analysts wrote, “We have valued NuCana on a discounted cash flow (DCF) basis, which yields a $624M projected enterprise value as of mid-2020. Our calculations rely upon a 60% probability of approval for Acelarin across both front-line BTC and fourth-line 30% probability of approval for NUC-3373 in the mCRC indication. We utilize a 12% discount rate and 17% effective corporate income tax rate, along with a 1% terminal growth rate.””
Several other analysts have also recently commented on the company. Zacks Investment Research cut NuCana from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. ValuEngine raised NuCana from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. BidaskClub raised NuCana from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 31st. Finally, William Blair reissued an “outperform” rating on shares of NuCana in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $22.33.
NCNA opened at $7.55 on Monday. The business has a 50 day simple moving average of $9.12 and a 200-day simple moving average of $12.48. The stock has a market capitalization of $223.97 million, a P/E ratio of -13.25 and a beta of 3.27. NuCana has a 12 month low of $4.01 and a 12 month high of $30.10.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Asymmetry Capital Management L.P. increased its stake in NuCana by 5.4% in the 1st quarter. Asymmetry Capital Management L.P. now owns 45,393 shares of the company’s stock valued at $772,000 after purchasing an additional 2,346 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in NuCana in the 2nd quarter valued at approximately $32,000. Aperio Group LLC purchased a new position in NuCana in the 2nd quarter valued at approximately $39,000. Alps Advisors Inc. increased its stake in NuCana by 5.6% in the 1st quarter. Alps Advisors Inc. now owns 77,838 shares of the company’s stock valued at $1,323,000 after purchasing an additional 4,160 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new position in NuCana in the 2nd quarter valued at approximately $139,000. 40.21% of the stock is owned by institutional investors and hedge funds.
NuCana plc, a clinical-stage biopharmaceutical company, engages in the development of products for the treatment of cancer. It is developing Acelarin that is in Phase I clinical trials for the treatment of advanced metastatic solid tumors; Phase Ib clinical trials for the treatment of recurrent ovarian cancer; Phase II clinical trials for the treatment of patients with platinum-resistant ovarian cancer; Phase Ib clinical trials for the treatment of patients with biliary cancer; and Phase III clinical trials for the treatment of pancreatic cancer.
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