NovoCure’s (NVCR) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of NovoCure (NASDAQ:NVCR) in a report published on Monday morning,Benzinga reports. The brokerage currently has a $38.00 target price on the medical equipment provider’s stock, up from their prior target price of $30.00.

Separately, Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $18.00 to $30.00 in a research report on Monday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.33.

NovoCure Stock Performance

NASDAQ NVCR opened at $29.23 on Monday. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average price is $17.46 and its two-hundred day moving average price is $18.58. NovoCure has a 1 year low of $11.66 and a 1 year high of $32.60. The firm has a market capitalization of $3.16 billion, a P/E ratio of -20.88 and a beta of 0.75.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm had revenue of $155.10 million for the quarter, compared to analyst estimates of $143.95 million. During the same period in the prior year, the firm posted ($0.46) earnings per share. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, research analysts anticipate that NovoCure will post -1.31 EPS for the current year.

Institutional Trading of NovoCure

Several hedge funds have recently modified their holdings of NVCR. Ridgewood Investments LLC acquired a new stake in NovoCure in the 2nd quarter valued at $28,000. Signaturefd LLC boosted its holdings in NovoCure by 61.7% during the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 627 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in NovoCure during the 2nd quarter worth $34,000. Fifth Third Bancorp purchased a new position in NovoCure during the 2nd quarter worth $43,000. Finally, Brooklyn Investment Group purchased a new position in NovoCure during the 3rd quarter worth $45,000. Institutional investors own 84.61% of the company’s stock.

NovoCure Company Profile

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company’s TTFields devices include Optune Gio and Optune Lua.