NovoCure (NASDAQ:NVCR) Rating Increased to Hold at StockNews.com

NovoCure (NASDAQ:NVCR) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

A number of other analysts also recently commented on NVCR. Piper Sandler boosted their price target on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. HC Wainwright reiterated a “buy” rating and issued a $38.00 target price on shares of NovoCure in a report on Tuesday, January 14th. Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $18.00 to $30.00 in a report on Monday, December 2nd. Finally, Wedbush reiterated a “neutral” rating and issued a $29.00 target price on shares of NovoCure in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, NovoCure has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

NovoCure Price Performance

Shares of NVCR stock traded down $0.23 during midday trading on Tuesday, reaching $19.36. 915,320 shares of the company were exchanged, compared to its average volume of 1,250,002. NovoCure has a 12 month low of $11.70 and a 12 month high of $34.13. The company has a market cap of $2.13 billion, a P/E ratio of -13.83 and a beta of 0.63. The company’s 50 day moving average price is $23.02 and its two-hundred day moving average price is $21.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.27). NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The company had revenue of $161.27 million for the quarter, compared to the consensus estimate of $161.30 million. On average, sell-side analysts expect that NovoCure will post -1.3 earnings per share for the current year.

Institutional Investors Weigh In On NovoCure

Large investors have recently made changes to their positions in the company. GeoWealth Management LLC acquired a new stake in shares of NovoCure during the fourth quarter valued at approximately $27,000. Lindbrook Capital LLC raised its holdings in shares of NovoCure by 189.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after acquiring an additional 1,213 shares during the period. Blue Trust Inc. raised its holdings in shares of NovoCure by 70.7% during the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after acquiring an additional 781 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of NovoCure during the fourth quarter valued at approximately $68,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of NovoCure during the fourth quarter valued at approximately $70,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

About NovoCure

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.