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

StockNews.com lowered shares of NovoCure (NASDAQ:NVCR) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

NVCR has been the subject of a number of other research reports. HC Wainwright reissued a “buy” rating and set a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th. Wedbush reissued a “neutral” rating and issued a $29.00 price objective on shares of NovoCure in a research report on Monday, January 13th. Finally, Piper Sandler upped their price target on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $34.50.

NovoCure Stock Performance

NASDAQ:NVCR opened at $16.50 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The firm has a market cap of $1.81 billion, a PE ratio of -11.79 and a beta of 0.65. The firm has a 50 day simple moving average of $19.59 and a 200-day simple moving average of $21.56. NovoCure has a 1-year low of $11.70 and a 1-year high of $34.13.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) EPS 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 business had revenue of $161.27 million during the quarter, compared to analysts’ expectations of $161.30 million. On average, equities analysts expect that NovoCure will post -1.3 EPS for the current year.

Institutional Trading of NovoCure

Several institutional investors and hedge funds have recently bought and sold shares of NVCR. GeoWealth Management LLC bought a new stake in NovoCure during the fourth quarter valued at $27,000. Lindbrook Capital LLC raised 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 worth $55,000 after purchasing an additional 1,213 shares during the period. Blue Trust Inc. lifted its holdings in shares of NovoCure by 70.7% in 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. acquired a new position in NovoCure during the 4th quarter valued at approximately $68,000. Finally, SBI Securities Co. Ltd. acquired a new stake in NovoCure in the fourth quarter worth $70,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.