NovoCure (NASDAQ:NVCR) Price Target Raised to $20.00

NovoCure (NASDAQ:NVCR) had its target price increased by Wedbush from $18.00 to $20.00 in a research report released on Friday morning, MarketBeat Ratings reports. The brokerage currently has a neutral rating on the medical equipment provider’s stock.

A number of other equities analysts have also commented on the company. HC Wainwright boosted their price objective on NovoCure from $46.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company raised their target price on NovoCure from $13.50 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. began coverage on NovoCure in a report on Monday, July 13th. They issued a “neutral” rating and a $17.00 price target for the company. Weiss Ratings upgraded shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Finally, Zacks Research lowered shares of NovoCure from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NovoCure presently has a consensus rating of “Hold” and an average target price of $21.20.

NovoCure Stock Performance

NASDAQ:NVCR opened at $17.65 on Friday. The stock has a market capitalization of $2.06 billion, a P/E ratio of -13.58 and a beta of 0.94. The company has a current ratio of 2.89, a quick ratio of 2.70 and a debt-to-equity ratio of 0.58. NovoCure has a 1 year low of $9.82 and a 1 year high of $21.45. The firm has a 50 day moving average of $16.64 and a 200-day moving average of $14.14.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, July 23rd. The medical equipment provider reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.20. NovoCure had a negative return on equity of 44.00% and a negative net margin of 21.25%.The business had revenue of $183.58 million for the quarter, compared to analyst estimates of $172.44 million. During the same period in the prior year, the company earned ($0.36) EPS. NovoCure’s revenue for the quarter was up 15.6% on a year-over-year basis. As a group, sell-side analysts anticipate that NovoCure will post -1.41 EPS for the current fiscal year.

Insider Activity

In other news, Director Timothy J. Scannell sold 2,945 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the completion of the sale, the director owned 14,288 shares in the company, valued at $225,321.76. The trade was a 17.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeryl L. Hilleman sold 2,945 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total value of $46,442.65. Following the sale, the director owned 13,861 shares of the company’s stock, valued at approximately $218,587.97. The trade was a 17.52% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 51,943 shares of company stock worth $893,171. 5.52% of the stock is owned by company insiders.

Institutional Trading of NovoCure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in NovoCure by 25.2% during the 4th quarter. Larson Financial Group LLC now owns 5,133 shares of the medical equipment provider’s stock valued at $66,000 after purchasing an additional 1,033 shares during the period. Alliancebernstein L.P. grew its position in shares of NovoCure by 0.8% during the 3rd quarter. Alliancebernstein L.P. now owns 137,106 shares of the medical equipment provider’s stock worth $1,771,000 after buying an additional 1,076 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of NovoCure by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock worth $70,000 after buying an additional 1,120 shares during the period. Strs Ohio raised its stake in shares of NovoCure by 2.2% during the first quarter. Strs Ohio now owns 59,400 shares of the medical equipment provider’s stock worth $647,000 after buying an additional 1,300 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of NovoCure by 14.9% during the fourth quarter. Royal Bank of Canada now owns 12,830 shares of the medical equipment provider’s stock worth $166,000 after buying an additional 1,667 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting NovoCure

Here are the key news stories impacting NovoCure this week:

• Positive Sentiment: NovoCure reported Q2 EPS of -$0.13, beating the consensus loss estimate of -$0.33, while revenue came in at $183.6 million versus expectations of $172.4 million. Revenue also rose 15.6% year over year, signaling improving business momentum.
• Positive Sentiment: The company raised its FY2026 revenue guidance to $710 million-$725 million, above the market’s prior expectation of about $704 million, which suggests management sees continued demand strength.
• Positive Sentiment: HC Wainwright increased its price target on NovoCure to $52 from $46 and maintained a Buy rating, reinforcing optimism around the company’s longer-term earnings potential. Article Title
• Neutral Sentiment: Wedbush also raised its price target to $20 from $18, but kept a Neutral rating, indicating improved expectations without a strong bullish call. Article Title
• Neutral Sentiment: Shares also got a lift from optimism around the company’s brain therapy pipeline and possible FDA-related catalysts, which helped push the stock to new highs as investors priced in further upside. Article Title
• Negative Sentiment: HC Wainwright trimmed its FY2029 EPS estimate slightly to $1.90 from $1.95, a small caution on the company’s very long-term earnings outlook.

NovoCure Company Profile

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.