NovoCure (NASDAQ:NVCR) Upgraded at StockNews.com

StockNews.com upgraded shares of NovoCure (NASDAQ:NVCR) from a sell rating to a hold rating in a research note published on Thursday.

Several other analysts have also recently commented on NVCR. JPMorgan Chase & Co. dropped their price target on NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th. Finally, Wedbush reduced their price objective on NovoCure from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.17.

NovoCure Price Performance

Shares of NovoCure stock opened at $15.58 on Thursday. The firm has a market cap of $1.71 billion, a PE ratio of -11.13 and a beta of 0.65. 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 business has a 50-day moving average price of $18.95 and a 200 day moving average price of $21.58.

NovoCure (NASDAQ:NVCR) last announced its earnings results 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 predict that NovoCure will post -1.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NovoCure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in shares of NovoCure by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock worth $37,601,000 after purchasing an additional 29,871 shares during the last quarter. Tidal Investments LLC boosted its stake in NovoCure by 4.6% during the third quarter. Tidal Investments LLC now owns 55,756 shares of the medical equipment provider’s stock worth $871,000 after buying an additional 2,465 shares during the period. Franklin Resources Inc. increased its position in shares of NovoCure by 222.6% during the third quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider’s stock valued at $2,904,000 after acquiring an additional 124,793 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of NovoCure by 35.8% in the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after acquiring an additional 880 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of NovoCure by 57.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider’s stock worth $129,000 after acquiring an additional 1,575 shares during the last quarter. 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.