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

NovoCure (NASDAQ:NVCR) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Saturday.

NVCR has been the topic of a number of other reports. Piper Sandler lifted their price objective on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th. Wedbush reiterated a “neutral” rating and set a $29.00 price target on shares of NovoCure in a report on Monday, January 13th. Finally, Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and increased their price target for the company from $18.00 to $30.00 in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, NovoCure presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.80.

NovoCure Trading Down 0.6 %

NASDAQ NVCR opened at $18.86 on Friday. The firm’s 50 day moving average price is $21.72 and its two-hundred day moving average price is $21.61. 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 has a twelve month low of $11.70 and a twelve month high of $34.13. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -13.47 and a beta of 0.63.

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

Institutional Investors Weigh In On NovoCure

A number of hedge funds and other institutional investors have recently bought and sold shares of NVCR. GeoWealth Management LLC bought a new stake in shares of NovoCure during the fourth quarter worth $27,000. Brooklyn Investment Group acquired a new position in NovoCure during the 3rd quarter worth about $45,000. Lindbrook Capital LLC grew its holdings in NovoCure by 189.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock worth $55,000 after acquiring an additional 1,213 shares during the last quarter. Blue Trust Inc. grew its holdings in NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 781 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in NovoCure in the 4th quarter valued at about $68,000. 84.61% of the stock is owned by institutional investors and hedge funds.

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.