Novocure Ltd (NASDAQ:NVCR) has been assigned an average rating of “Hold” from the ten analysts that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $86.40.
NVCR has been the subject of a number of recent research reports. Oppenheimer boosted their price target on Novocure from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, September 13th. BidaskClub downgraded Novocure from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. restated a “hold” rating and set a $79.00 price target on shares of Novocure in a research note on Monday, November 4th. Wells Fargo & Co boosted their price target on Novocure from $75.00 to $85.00 in a research note on Thursday. Finally, Zacks Investment Research downgraded Novocure from a “buy” rating to a “hold” rating in a research note on Friday, November 1st.
NASDAQ NVCR opened at $77.84 on Friday. Novocure has a one year low of $28.83 and a one year high of $98.70. The stock has a 50-day moving average of $82.12 and a 200 day moving average of $75.74. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of -112.81 and a beta of 2.43. The company has a debt-to-equity ratio of 0.84, a quick ratio of 4.76 and a current ratio of 5.06.
Novocure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, October 31st. The medical equipment provider reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.07. Novocure had a negative return on equity of 18.45% and a negative net margin of 8.43%. The company had revenue of $92.06 million during the quarter, compared to the consensus estimate of $87.12 million. During the same period last year, the company earned ($0.13) EPS. Novocure’s revenue for the quarter was up 42.2% on a year-over-year basis. On average, equities analysts predict that Novocure will post -0.13 earnings per share for the current fiscal year.
In other Novocure news, Chairman William F. Doyle sold 29,782 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $80.11, for a total transaction of $2,385,836.02. Following the completion of the sale, the chairman now directly owns 822,683 shares in the company, valued at approximately $65,905,135.13. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman William F. Doyle sold 150,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $90.36, for a total value of $13,554,000.00. Following the sale, the chairman now owns 660,165 shares of the company’s stock, valued at $59,652,509.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 550,969 shares of company stock valued at $48,388,736. Corporate insiders own 5.60% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd grew its stake in shares of Novocure by 1,337.1% during the 2nd quarter. Point72 Hong Kong Ltd now owns 503 shares of the medical equipment provider’s stock valued at $32,000 after acquiring an additional 468 shares during the period. Legacy Bridge LLC grew its stake in shares of Novocure by 666.7% during the 3rd quarter. Legacy Bridge LLC now owns 460 shares of the medical equipment provider’s stock valued at $34,000 after acquiring an additional 400 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Novocure during the 3rd quarter valued at approximately $48,000. Princeton Global Asset Management LLC bought a new position in shares of Novocure during the 2nd quarter valued at approximately $63,000. Finally, Quantamental Technologies LLC bought a new position in shares of Novocure during the 2nd quarter valued at approximately $66,000. Institutional investors own 66.74% of the company’s stock.
Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.
Further Reading: What is a Real Estate Investment Trust (REIT)?
Receive News & Ratings for Novocure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novocure and related companies with MarketBeat.com's FREE daily email newsletter.