NovoCure (NASDAQ:NVCR) Stock Price Target Raised at LADENBURG THALM/SH SH

Key Points

• Ladenburg Thalmann raised NovoCure’s price target from $27 to $31 and reiterated a Buy rating, implying 162.49% upside from the prior close.
• Analyst opinions are mixed: MarketBeat’s consensus rating is Hold, with an average price target of $22.33.
• NovoCure beat quarterly estimates, reporting a loss of $0.09 per share and revenue of $193.4 million, up 15.7% year over year; shares fell 5.7% in Tuesday trading.

NovoCure (NASDAQ:NVCR - Get Free Report) had its price objective increased by equities research analysts at LADENBURG THALM/SH SH from $27.00 to $31.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the medical equipment provider's stock. LADENBURG THALM/SH SH's target price points to a potential upside of 162.49% from the company's previous close.

Other equities analysts also recently issued reports about the company. Weiss Ratings downgraded NovoCure from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, October 30th. Wall Street Zen upgraded NovoCure from a "hold" rating to a "buy" rating in a report on Saturday, October 31st. JPMorgan Chase & Co. started coverage on shares of NovoCure in a research report on Monday, July 13th. They set a "neutral" rating and a $17.00 target price for the company. HC Wainwright set a $32.00 price target on shares of NovoCure in a report on Friday, July 24th. Finally, Zacks Research raised shares of NovoCure from a "strong sell" rating to a "hold" rating in a research note on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $22.33.

NovoCure Trading Down 5.7%

Shares of NASDAQ:NVCR traded down $0.72 during mid-day trading on Tuesday, reaching $11.81. 1,927,374 shares of the company's stock were exchanged, compared to its average volume of 1,689,689. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.34 and a current ratio of 2.49. NovoCure has a twelve month low of $9.82 and a twelve month high of $21.45. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -11.14 and a beta of 1.09. The business's fifty day moving average price is $15.30 and its 200-day moving average price is $14.78.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its earnings results on Thursday, October 29th. The medical equipment provider reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.14. The business had revenue of $193.40 million during the quarter, compared to analyst estimates of $182.28 million. NovoCure had a negative return on equity of 35.81% and a negative net margin of 16.78%. NovoCure's revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the company earned ($0.33) EPS. On average, research analysts predict that NovoCure will post -1.09 EPS for the current fiscal year.

Hedge Funds Weigh In On NovoCure

A number of large investors have recently modified their holdings of the company. Elevation Wealth Partners LLC grew its holdings in shares of NovoCure by 196.4% during the third quarter. Elevation Wealth Partners LLC now owns 1,731 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 1,147 shares during the last quarter. First Bancorp Inc ME bought a new position in shares of NovoCure in the second quarter valued at approximately $38,000. Allworth Financial LP lifted its holdings in shares of NovoCure by 182.0% in the second quarter. Allworth Financial LP now owns 2,721 shares of the medical equipment provider's stock valued at $41,000 after purchasing an additional 1,756 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of NovoCure by 591.6% during the third quarter. Sterling Capital Management LLC now owns 3,458 shares of the medical equipment provider's stock valued at $55,000 after buying an additional 2,958 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of NovoCure during the second quarter valued at approximately $84,000. 84.61% of the stock is currently owned by institutional investors.

About NovoCure

NovoCure is a global oncology company that develops and commercializes Tumor Treating Fields (TTFields), a cancer treatment that uses wearable devices to deliver low-intensity electric fields intended to disrupt cancer cell division. Its products include Optune Gio and Optune Lua, which are used to treat certain cancers. The company is headquartered in Baar, Switzerland, and serves patients in markets across North America, Europe and Asia. NovoCure was founded in 2000 by Yoram Palti, a medical researcher who developed the TTFields approach.

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