NovoCure (NASDAQ:NVCR) Rating Increased to Hold at StockNews.com

NovoCure (NASDAQ:NVCR) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

A number of other analysts have also recently weighed in on the stock. Piper Sandler boosted their price objective on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of NovoCure in a research note on Tuesday, January 14th. Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and upped their target price for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. Finally, Wedbush reiterated a “neutral” rating and set a $29.00 target price on shares of NovoCure in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.67.

NovoCure Stock Performance

Shares of NovoCure stock traded down $0.23 on Tuesday, reaching $19.36. The stock had a trading volume of 915,320 shares, compared to its average volume of 1,250,002. The business’s 50-day moving average price is $23.02 and its two-hundred day moving average price is $21.58. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. NovoCure has a fifty-two week low of $11.70 and a fifty-two week high of $34.13. The stock has a market cap of $2.13 billion, a P/E ratio of -13.83 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). NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm had revenue of $161.27 million during the quarter, compared to analyst estimates of $161.30 million. On average, sell-side analysts forecast that NovoCure will post -1.3 EPS for the current year.

Hedge Funds Weigh In On NovoCure

A number of hedge funds have recently made changes to their positions in the business. Summit Investment Advisors Inc. raised its stake in shares of NovoCure by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,141 shares of the medical equipment provider’s stock valued at $332,000 after buying an additional 708 shares in the last quarter. Blue Trust Inc. raised its stake 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 valued at $56,000 after buying an additional 781 shares in 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 buying an additional 880 shares in the last quarter. GeoWealth Management LLC acquired a new position in shares of NovoCure in the 4th quarter valued at $27,000. Finally, Lindbrook Capital LLC raised its stake 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 valued at $55,000 after buying an additional 1,213 shares in 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.