Nivalis Therapeutics Inc. (NASDAQ:NVLS) was downgraded by Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday. They currently have a $3.00 target price on the stock, down from their previous target price of $29.00. Robert W. Baird’s price objective would indicate a potential downside of 52.00% from the company’s current price.
Several other equities research analysts also recently weighed in on the stock. Raymond James Financial Inc. initiated coverage on shares of Nivalis Therapeutics in a research note on Tuesday, September 13th. They set an “outperform” rating and a $20.00 target price for the company. Piper Jaffray Cos. reiterated a “buy” rating and set a $16.00 target price on shares of Nivalis Therapeutics in a research note on Tuesday, August 30th. HC Wainwright reiterated a “buy” rating on shares of Nivalis Therapeutics in a research note on Monday, August 8th. Zacks Investment Research upgraded shares of Nivalis Therapeutics from a “sell” rating to a “buy” rating and set a $8.50 target price for the company in a research note on Thursday, October 20th. Finally, Cowen and Company reiterated a “buy” rating on shares of Nivalis Therapeutics in a research note on Monday, August 1st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $9.60.
Shares of Nivalis Therapeutics (NASDAQ:NVLS) opened at 6.25 on Tuesday. The stock’s market capitalization is $97.14 million. The firm’s 50-day moving average price is $6.46 and its 200 day moving average price is $5.84. Nivalis Therapeutics has a 1-year low of $3.68 and a 1-year high of $9.45.
Nivalis Therapeutics (NASDAQ:NVLS) last announced its earnings results on Monday, November 7th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.11. Equities research analysts expect that Nivalis Therapeutics will post ($2.10) earnings per share for the current fiscal year.
In related news, EVP David Malcom Rodman sold 5,820 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $7.96, for a total value of $46,327.20. Following the completion of the sale, the executive vice president now owns 18,056 shares in the company, valued at $143,725.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its stake in shares of Nivalis Therapeutics by 7.8% in the third quarter. Bank of New York Mellon Corp now owns 16,494 shares of the company’s stock worth $134,000 after buying an additional 1,189 shares during the last quarter. Spark Investment Management LLC bought a new stake in Nivalis Therapeutics during the third quarter worth about $145,000. Endurant Capital Management LP increased its stake in Nivalis Therapeutics by 29.8% in the third quarter. Endurant Capital Management LP now owns 85,412 shares of the company’s stock worth $694,000 after buying an additional 19,629 shares during the last quarter. Paloma Partners Management Co bought a new stake in Nivalis Therapeutics during the second quarter worth about $105,000. Finally, AXA increased its stake in Nivalis Therapeutics by 35.4% in the second quarter. AXA now owns 533,692 shares of the company’s stock worth $2,455,000 after buying an additional 139,652 shares during the last quarter. Hedge funds and other institutional investors own 79.26% of the company’s stock.
About Nivalis Therapeutics