NovoCure (NASDAQ:NVCR – Get Free Report) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $29.00 to $28.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 69.70% from the company’s current price.
NVCR has been the topic of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and set a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th. Piper Sandler upped their price target on shares of 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. Finally, StockNews.com cut NovoCure from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.50.
View Our Latest Analysis on NovoCure
NovoCure Stock Performance
NovoCure (NASDAQ:NVCR – Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 41.48% and a negative net margin of 25.93%. As a group, analysts anticipate that NovoCure will post -1.3 EPS for the current year.
Hedge Funds Weigh In On NovoCure
A number of large investors have recently modified their holdings of NVCR. GeoWealth Management LLC purchased a new stake in shares of NovoCure in the 4th quarter valued at $27,000. Lindbrook Capital LLC increased its holdings in shares of NovoCure by 189.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock worth $55,000 after buying an additional 1,213 shares during the period. Blue Trust Inc. boosted 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 valued at $56,000 after acquiring an additional 781 shares during the period. GF Fund Management CO. LTD. bought a new position in NovoCure during the 4th quarter worth approximately $68,000. Finally, SBI Securities Co. Ltd. purchased a new position in NovoCure in the 4th quarter worth approximately $70,000. 84.61% of the stock is owned by hedge funds and other institutional investors.
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.
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