Raymond James Financial Inc. cut shares of Nivalis Therapeutics Inc. (NASDAQ:NVLS) from an outperform rating to a market perform rating in a research report released on Tuesday.

A number of other research firms also recently commented on NVLS. Cowen and Company downgraded Nivalis Therapeutics from an outperform rating to a market perform rating in a report on Tuesday. Zacks Investment Research raised Nivalis Therapeutics from a hold rating to a buy rating and set a $5.75 target price on the stock in a report on Saturday, November 5th. Robert W. Baird downgraded Nivalis Therapeutics from an outperform rating to a neutral rating and reduced their target price for the stock from $29.00 to $3.00 in a report on Tuesday. HC Wainwright reaffirmed a buy rating on shares of Nivalis Therapeutics in a report on Monday, August 8th. Finally, Piper Jaffray Cos. reaffirmed a buy rating and set a $16.00 target price on shares of Nivalis Therapeutics in a report on Tuesday, August 30th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $9.00.

Nivalis Therapeutics (NASDAQ:NVLS) opened at 2.57 on Tuesday. The firm’s market cap is $39.95 million. The company’s 50-day moving average price is $6.46 and its 200-day moving average price is $5.84. Nivalis Therapeutics has a one year low of $3.68 and a one year high of $9.45.

Nivalis Therapeutics (NASDAQ:NVLS) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.11. On average, analysts anticipate that Nivalis Therapeutics will post ($2.10) EPS for the current year.

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In related news, EVP David Malcom Rodman sold 5,820 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $7.96, for a total value of $46,327.20. Following the sale, the executive vice president now owns 18,056 shares of the company’s stock, valued at approximately $143,725.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.00% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. BVF Inc. IL increased its stake in shares of Nivalis Therapeutics by 24.5% in the second quarter. BVF Inc. IL now owns 1,926,443 shares of the company’s stock valued at $8,862,000 after buying an additional 379,700 shares during the period. Sphera Funds Management LTD. acquired a new stake in shares of Nivalis Therapeutics during the third quarter valued at $1,664,000. Opaleye Management Inc. increased its stake in shares of Nivalis Therapeutics by 160.0% in the second quarter. Opaleye Management Inc. now owns 260,000 shares of the company’s stock valued at $1,287,000 after buying an additional 160,000 shares during the last quarter. AXA increased its stake in shares of Nivalis Therapeutics by 35.4% in the second quarter. AXA now owns 533,692 shares of the company’s stock valued at $2,455,000 after buying an additional 139,652 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Nivalis Therapeutics during the second quarter valued at $105,000. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Nivalis Therapeutics Company Profile

Nivalis Therapeutics, Inc is a clinical-stage pharmaceutical company. The Company discovers, develops and commercializes product candidates for patients with cystic fibrosis (CF). It focuses on utilizing its S-nitrosoglutathione reductase (GSNOR) inhibitor portfolio to develop therapeutics for other diseases.

5 Day Chart for NASDAQ:NVLS

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