Research Analysts’ Recent Ratings Updates for NovoCure (NVCR)

NovoCure (NASDAQ: NVCR) has recently received a number of price target changes and ratings updates:

  • 4/3/2024 – NovoCure had its price target lowered by analysts at Wells Fargo & Company from $49.00 to $42.00. They now have an “overweight” rating on the stock.
  • 3/27/2024 – NovoCure had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $21.00 price target on the stock.
  • 3/27/2024 – NovoCure had its price target raised by analysts at HC Wainwright from $22.00 to $24.00. They now have a “neutral” rating on the stock.
  • 3/19/2024 – NovoCure had its price target raised by analysts at JPMorgan Chase & Co. from $15.00 to $17.00. They now have a “neutral” rating on the stock.
  • 2/23/2024 – NovoCure had its price target raised by analysts at Evercore ISI from $14.00 to $15.00. They now have an “in-line” rating on the stock.
  • 2/22/2024 – NovoCure had its price target raised by analysts at HC Wainwright from $21.00 to $22.00. They now have a “buy” rating on the stock.

NovoCure Stock Up 1.2 %

NVCR traded up $0.17 during trading hours on Wednesday, hitting $14.56. 855,216 shares of the company’s stock were exchanged, compared to its average volume of 1,402,494. NovoCure Limited has a 12-month low of $10.87 and a 12-month high of $83.60. The firm has a 50 day moving average of $15.02 and a 200 day moving average of $14.33. The firm has a market cap of $1.56 billion, a P/E ratio of -7.47 and a beta of 0.42. The company has a current ratio of 5.78, a quick ratio of 5.56 and a debt-to-equity ratio of 1.57.

NovoCure (NASDAQ:NVCRGet Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The medical equipment provider reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.08. NovoCure had a negative net margin of 40.65% and a negative return on equity of 51.63%. The company had revenue of $133.80 million for the quarter, compared to the consensus estimate of $133.80 million. During the same period in the prior year, the firm posted ($0.36) EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Analysts predict that NovoCure Limited will post -1.73 EPS for the current fiscal year.

Insider Activity

In related news, EVP Frank X. Leonard sold 1,679 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.03, for a total transaction of $26,914.37. Following the completion of the sale, the executive vice president now owns 160,938 shares in the company, valued at approximately $2,579,836.14. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Frank X. Leonard sold 1,679 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.03, for a total transaction of $26,914.37. Following the completion of the sale, the executive vice president now owns 160,938 shares in the company, valued at approximately $2,579,836.14. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Frank X. Leonard sold 2,078 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total transaction of $33,538.92. Following the sale, the executive vice president now owns 162,617 shares of the company’s stock, valued at approximately $2,624,638.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,921 shares of company stock worth $127,161. Corporate insiders own 5.67% of the company’s stock.

Hedge Funds Weigh In On NovoCure

A number of large investors have recently bought and sold shares of NVCR. Vanguard Group Inc. increased its holdings in shares of NovoCure by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 9,759,098 shares of the medical equipment provider’s stock valued at $145,703,000 after purchasing an additional 122,105 shares in the last quarter. BlackRock Inc. increased its holdings in shares of NovoCure by 9.5% in the 1st quarter. BlackRock Inc. now owns 8,324,921 shares of the medical equipment provider’s stock valued at $500,661,000 after purchasing an additional 719,265 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of NovoCure by 22.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,655,686 shares of the medical equipment provider’s stock valued at $159,714,000 after purchasing an additional 487,255 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of NovoCure by 4.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,460,529 shares of the medical equipment provider’s stock valued at $60,517,000 after purchasing an additional 58,684 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of NovoCure by 34.4% in the 3rd quarter. Morgan Stanley now owns 1,089,620 shares of the medical equipment provider’s stock valued at $17,597,000 after purchasing an additional 279,070 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.

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