NovoCure (NASDAQ:NVCR) Stock Rating Reaffirmed by Piper Sandler

NovoCure (NASDAQ:NVCR - Get Free Report)'s stock had its "overweight" rating reissued by equities research analysts at Piper Sandler in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $28.00 price objective on the medical equipment provider's stock, up from their previous price objective of $25.00. Piper Sandler's target price suggests a potential upside of 91.52% from the stock's current price.

A number of other equities research analysts have also recently issued reports on the company. Wedbush reiterated a "neutral" rating and set a $21.00 price objective on shares of NovoCure in a research note on Wednesday, March 27th. JPMorgan Chase & Co. lifted their price objective on shares of NovoCure from $15.00 to $17.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 19th. Evercore ISI increased their target price on shares of NovoCure from $14.00 to $15.00 and gave the stock an "in-line" rating in a research report on Friday, February 23rd. HC Wainwright lifted their price target on shares of NovoCure from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, March 27th. Finally, Wells Fargo & Company reduced their price target on NovoCure from $49.00 to $42.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 3rd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, NovoCure presently has an average rating of "Moderate Buy" and an average target price of $31.13.

NovoCure Trading Down 1.7 %

Shares of NovoCure stock traded down $0.26 during trading on Wednesday, hitting $14.62. 953,715 shares of the company were exchanged, compared to its average volume of 1,391,536. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.78 and a quick ratio of 5.56. The firm has a market capitalization of $1.57 billion, a P/E ratio of -7.50 and a beta of 0.42. The firm's fifty day moving average price is $15.04 and its 200 day moving average price is $14.17. NovoCure has a 1-year low of $10.87 and a 1-year high of $83.60.

NovoCure (NASDAQ:NVCR - Get Free Report) last issued its quarterly earnings data on Thursday, February 22nd. The medical equipment provider reported ($0.45) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.53) by $0.08. The firm had revenue of $133.80 million during 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%. The business's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.36) earnings per share. As a group, sell-side analysts expect that NovoCure will post -1.78 earnings per share for the current fiscal year.

Insider Transactions at NovoCure

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

Hedge Funds Weigh In On NovoCure

Several large investors have recently bought and sold shares of the company. US Bancorp DE raised its holdings in NovoCure by 18.9% in the 1st quarter. US Bancorp DE now owns 2,857 shares of the medical equipment provider's stock valued at $237,000 after buying an additional 454 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of NovoCure by 280.8% during 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 during the last quarter. BlackRock Inc. lifted its holdings in shares of NovoCure by 0.6% during the first quarter. BlackRock Inc. now owns 6,732,513 shares of the medical equipment provider's stock worth $557,787,000 after purchasing an additional 43,157 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of 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 during the last quarter. Finally, Blair William & Co. IL acquired a new stake in NovoCure in the first quarter valued at $572,000. 84.61% of the stock is currently owned by institutional investors.

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.