NovoCure (NASDAQ:NVCR) PT Lowered to $42.00

NovoCure (NASDAQ:NVCR - Get Free Report) had its price objective cut by research analysts at Wells Fargo & Company from $49.00 to $42.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the medical equipment provider's stock. Wells Fargo & Company's target price would indicate a potential upside of 191.26% from the stock's previous close.

Several other research analysts have also weighed in on the stock. HC Wainwright boosted their price objective on shares of NovoCure from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 27th. Wedbush restated a "neutral" rating and issued a $21.00 target price on shares of NovoCure in a research report on Wednesday, March 27th. Evercore ISI increased their price objective on shares of NovoCure from $14.00 to $15.00 and gave the company an "in-line" rating in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of NovoCure from $15.00 to $17.00 and gave the company a "neutral" rating in a research note on Tuesday, March 19th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.25.

NovoCure Price Performance

NASDAQ:NVCR traded up $0.03 during mid-day trading on Wednesday, hitting $14.42. The company's stock had a trading volume of 1,364,420 shares, compared to its average volume of 1,411,301. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -7.39 and a beta of 0.42. The stock has a fifty day moving average of $15.03 and a 200-day moving average of $14.29. 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 has a fifty-two week low of $10.87 and a fifty-two week high of $83.60.

NovoCure (NASDAQ:NVCR - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.08. The business had revenue of $133.80 million for the quarter, compared to analysts' expectations of $133.80 million. NovoCure had a negative net margin of 40.65% and a negative return on equity of 51.63%. NovoCure's revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.36) earnings per share. As a group, equities analysts forecast that NovoCure will post -1.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Frank X. Leonard sold 1,679 shares of the business's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $16.03, for a total value of $26,914.37. Following the sale, the executive vice president now owns 160,938 shares of the company's stock, valued at $2,579,836.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.03, for a total transaction of $33,775.21. Following the sale, the chief operating officer now directly owns 252,452 shares of the company's stock, valued at approximately $4,046,805.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Frank X. Leonard sold 1,679 shares of the firm's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.03, for a total transaction of $26,914.37. Following the sale, the executive vice president now directly owns 160,938 shares in the company, valued at approximately $2,579,836.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,921 shares of company stock valued at $127,161. Company insiders own 5.67% of the company's stock.

Hedge Funds Weigh In On NovoCure

Several institutional investors have recently made changes to their positions in the business. US Bancorp DE grew its holdings in shares of NovoCure by 18.9% in the first quarter. US Bancorp DE now owns 2,857 shares of the medical equipment provider's stock valued at $237,000 after purchasing an additional 454 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in shares of NovoCure by 280.8% in the first quarter. Panagora Asset Management Inc. now owns 12,702 shares of the medical equipment provider's stock valued at $1,052,000 after acquiring an additional 9,366 shares in the last quarter. BlackRock Inc. raised its holdings in shares of NovoCure by 0.6% in the first quarter. BlackRock Inc. now owns 6,732,513 shares of the medical equipment provider's stock valued at $557,787,000 after acquiring an additional 43,157 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in NovoCure by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 127,433 shares of the medical equipment provider's stock worth $10,559,000 after purchasing an additional 2,534 shares in the last quarter. Finally, Blair William & Co. IL bought a new position in NovoCure in the first quarter worth about $572,000. Institutional investors 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.