NovoCure (NASDAQ:NVCR) Rating Lowered to Sell at StockNews.com

by · The Markets Daily

StockNews.com lowered shares of NovoCure (NASDAQ:NVCR – Free Report) from a hold rating to a sell rating in a research note released on Friday.

A number of other research firms also recently issued reports on NVCR. JPMorgan Chase & Co. cut their target price on shares of NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. HC Wainwright reiterated a “buy” rating and set a $38.00 price objective on shares of NovoCure in a report on Tuesday, January 14th. Wedbush lowered their target price on NovoCure from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Finally, Piper Sandler reduced their price target on NovoCure from $42.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, NovoCure presently has an average rating of “Hold” and an average price target of $32.83.

Read Our Latest Analysis on NVCR

NovoCure Price Performance

NVCR stock opened at $18.50 on Friday. NovoCure has a one year low of $12.01 and a one year high of $34.13. The firm has a 50-day moving average of $18.48 and a two-hundred day moving average of $21.63. The firm has a market capitalization of $2.06 billion, a PE ratio of -13.21 and a beta of 0.65. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR – Get Free Report) last released its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.16. The company had revenue of $154.99 million during the quarter, compared to analyst estimates of $147.57 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. On average, analysts forecast that NovoCure will post -1.3 earnings per share for the current year.

Institutional Trading of NovoCure

Several large investors have recently modified their holdings of NVCR. Soleus Capital Management L.P. acquired a new position in shares of NovoCure during the 4th quarter worth about $81,643,000. Capital International Investors lifted its holdings in shares of NovoCure by 12.0% during the fourth quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider’s stock worth $264,442,000 after buying an additional 951,141 shares during the last quarter. Granite Investment Partners LLC acquired a new stake in shares of NovoCure in the fourth quarter worth $20,464,000. Emerald Advisers LLC acquired a new stake in shares of NovoCure in the fourth quarter worth $16,317,000. Finally, Capital World Investors increased its position in NovoCure by 11.8% during the fourth quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider’s stock worth $143,503,000 after acquiring an additional 507,311 shares during the period. 84.61% of the stock is owned by institutional investors.

NovoCure Company Profile

(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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