NovoCure (NASDAQ:NVCR) Upgraded at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of NovoCure (NASDAQ:NVCR – Free Report) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

NVCR has been the subject of several other research reports. Piper Sandler lifted their price objective on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Wedbush reiterated a “neutral” rating and issued a $29.00 price objective on shares of NovoCure in a research note on Monday, January 13th. Evercore ISI upgraded NovoCure from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. Finally, HC Wainwright restated a “buy” rating and set a $38.00 target price on shares of NovoCure in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $35.80.

View Our Latest Stock Report on NovoCure

NovoCure Stock Performance

Shares of NovoCure stock opened at $19.18 on Tuesday. The business has a 50-day moving average of $22.63 and a 200 day moving average of $21.54. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -13.70 and a beta of 0.63. NovoCure has a 12 month low of $11.70 and a 12 month high of $34.13.

NovoCure (NASDAQ:NVCR – Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.27). The company had revenue of $161.27 million during the quarter, compared to analysts’ expectations of $161.30 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. As a group, sell-side analysts forecast that NovoCure will post -1.3 earnings per share for the current year.

Institutional Investors Weigh In On NovoCure

Institutional investors have recently added to or reduced their stakes in the business. GeoWealth Management LLC purchased a new stake in NovoCure during the fourth quarter worth approximately $27,000. Brooklyn Investment Group purchased a new stake in NovoCure in the third quarter valued at approximately $45,000. Lindbrook Capital LLC lifted its stake in NovoCure by 189.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after buying an additional 1,213 shares during the last quarter. Blue Trust Inc. lifted its stake in NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 781 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new stake in NovoCure in the fourth quarter valued at approximately $68,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

About NovoCure

(Get Free Report)

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.

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