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

NovoCure (NASDAQ:NVCR) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

Several other brokerages have also recently weighed in on NVCR. 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. Piper Sandler raised their target price on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Wedbush reiterated a “neutral” rating and set a $29.00 price target on shares of NovoCure in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $34.50.

NovoCure Price Performance

Shares of NASDAQ:NVCR opened at $16.08 on Wednesday. The stock’s 50 day moving average is $19.73 and its 200-day moving average is $21.56. NovoCure has a twelve month low of $11.70 and a twelve month 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. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -11.49 and a beta of 0.65.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data 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). The business had revenue of $161.27 million for the quarter, compared to analyst estimates of $161.30 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. Sell-side analysts forecast that NovoCure will post -1.3 EPS for the current fiscal year.

Institutional Investors Weigh In On NovoCure

A number of hedge funds have recently made changes to their positions in the business. GeoWealth Management LLC purchased a new stake in NovoCure during the fourth quarter worth about $27,000. Lindbrook Capital LLC grew its position in shares of NovoCure by 189.2% during the 4th 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. increased its stake in shares of 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 purchasing an additional 781 shares during the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of NovoCure during the 4th quarter worth approximately $68,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of NovoCure in the 4th quarter worth approximately $70,000. 84.61% of the stock is currently owned by institutional investors.

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.