NovoCure (NASDAQ:NVCR) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of NovoCure (NASDAQ:NVCR) from a sell rating to a hold rating in a research report released on Tuesday morning.

Several other analysts have also recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price objective on shares of NovoCure in a research report on Tuesday, January 14th. Wedbush restated a “neutral” rating and issued a $29.00 target price on shares of NovoCure in a research note on Monday, January 13th. Piper Sandler upped their price target on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $18.00 to $30.00 in a research report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.67.

NovoCure Price Performance

Shares of NovoCure stock opened at $19.36 on Tuesday. The company has a market cap of $2.13 billion, a PE ratio of -13.83 and a beta of 0.63. The business has a 50 day moving average of $23.02 and a 200 day moving average of $21.58. NovoCure has a 52 week low of $11.70 and a 52 week high of $34.13. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR) last posted its earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $161.30 million. As a group, equities research analysts forecast that NovoCure will post -1.3 earnings per share for the current year.

Institutional Trading of NovoCure

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GeoWealth Management LLC purchased a new position in NovoCure during the fourth quarter valued at $27,000. Brooklyn Investment Group bought a new position in shares of NovoCure during the third quarter valued at $45,000. Lindbrook Capital LLC raised its position in shares of NovoCure by 189.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock worth $55,000 after purchasing an additional 1,213 shares during the last quarter. Blue Trust Inc. boosted its stake in NovoCure by 70.7% in the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock worth $56,000 after purchasing an additional 781 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new stake in NovoCure during the 4th quarter valued at about $68,000. Hedge funds and other 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.