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

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

Other research analysts also recently issued research reports about the stock. Wedbush restated a “neutral” rating and issued a $29.00 price target on shares of NovoCure in a research report on Monday, January 13th. HC Wainwright reiterated a “buy” rating and set a $38.00 price objective on shares of NovoCure in a report on Tuesday, January 14th. Piper Sandler increased their price target on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NovoCure has an average rating of “Moderate Buy” and a consensus price target of $35.80.

NovoCure Stock Performance

Shares of NovoCure stock opened at $17.82 on Friday. The company has a 50 day moving average of $21.56 and a 200-day moving average of $21.68. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. NovoCure has a 1-year low of $11.70 and a 1-year high of $34.13. The company has a market cap of $1.96 billion, a PE ratio of -12.73 and a beta of 0.63.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data 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 firm had revenue of $161.27 million for the quarter, compared to the consensus estimate 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, equities research analysts forecast that NovoCure will post -1.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NovoCure

Several hedge funds and other institutional investors have recently modified their holdings of the company. Summit Investment Advisors Inc. grew its stake in shares of NovoCure by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,141 shares of the medical equipment provider’s stock valued at $332,000 after purchasing an additional 708 shares during the period. Blue Trust Inc. increased its holdings in shares of NovoCure by 70.7% in the fourth 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. Versant Capital Management Inc raised its stake in NovoCure by 35.8% during the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after purchasing an additional 880 shares in the last quarter. GeoWealth Management LLC bought a new stake in shares of NovoCure in the 4th quarter valued at approximately $27,000. Finally, Lindbrook Capital LLC lifted its holdings 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 acquiring an additional 1,213 shares during the last quarter. 84.61% of the stock is 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.