LADENBURG THALM/SH SH initiated coverage on shares of NovoCure (NASDAQ:NVCR - Free Report) in a research note released on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $30.00 price objective on the medical equipment provider's stock.
Several other equities analysts also recently commented on NVCR. Piper Sandler reissued an "overweight" rating and issued a $34.00 target price on shares of NovoCure in a report on Friday, June 27th. JPMorgan Chase & Co. lowered their target price on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Wedbush lowered their target price on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Finally, Wall Street Zen downgraded shares of NovoCure from a "hold" rating to a "sell" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.43.
View Our Latest Stock Analysis on NovoCure
NovoCure Price Performance
NASDAQ:NVCR traded down $0.86 during trading hours on Tuesday, hitting $17.60. 876,239 shares of the stock traded hands, compared to its average volume of 1,127,622. The company has a quick ratio of 1.41, a current ratio of 1.47 and a debt-to-equity ratio of 0.27. NovoCure has a 1 year low of $14.17 and a 1 year high of $34.13. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -11.66 and a beta of 0.72. The stock has a 50 day moving average price of $17.65 and a 200 day moving average price of $20.32.
NovoCure (NASDAQ:NVCR - Get Free Report) last released its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.16. NovoCure had a negative net margin of 26.41% and a negative return on equity of 45.46%. The firm had revenue of $154.99 million for the quarter, compared to the consensus estimate of $147.57 million. During the same quarter in the previous year, the firm earned ($0.36) earnings per share. The company's quarterly revenue was up 11.9% compared to the same quarter last year. Sell-side analysts forecast that NovoCure will post -1.3 EPS for the current fiscal year.
Institutional Investors Weigh In On NovoCure
Hedge funds have recently bought and sold shares of the business. Kera Capital Partners Inc. increased its position in NovoCure by 22.6% during the second quarter. Kera Capital Partners Inc. now owns 13,319 shares of the medical equipment provider's stock valued at $237,000 after acquiring an additional 2,453 shares during the last quarter. Rhumbline Advisers increased its position in NovoCure by 3.8% during the first quarter. Rhumbline Advisers now owns 150,952 shares of the medical equipment provider's stock valued at $2,690,000 after acquiring an additional 5,483 shares during the last quarter. Strs Ohio bought a new position in NovoCure during the first quarter valued at $759,000. Acadian Asset Management LLC bought a new position in NovoCure during the first quarter valued at $87,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in NovoCure by 154.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,782,159 shares of the medical equipment provider's stock valued at $31,758,000 after acquiring an additional 1,080,514 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.
About NovoCure
(
Get Free Report)
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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