NovoCure (NASDAQ:NVCR) Coverage Initiated at LADENBURG THALM/SH SH

Equities researchers at LADENBURG THALM/SH SH assumed coverage on shares of NovoCure (NASDAQ:NVCR - Get Free Report) in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage set a "buy" rating and a $30.00 price target on the medical equipment provider's stock. LADENBURG THALM/SH SH's target price points to a potential upside of 77.62% from the stock's current price.

Several other research firms also recently commented on NVCR. Piper Sandler restated an "overweight" rating and issued a $34.00 price target on shares of NovoCure in a research note on Friday, June 27th. JPMorgan Chase & Co. decreased their price target on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Wall Street Zen downgraded shares of NovoCure from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Finally, Wedbush decreased their price target on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, NovoCure currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.43.

NovoCure Stock Performance

NASDAQ NVCR opened at $16.89 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27. The firm's fifty day moving average price is $17.67 and its two-hundred day moving average price is $20.53. NovoCure has a 1 year low of $14.17 and a 1 year high of $34.13. The firm has a market capitalization of $1.88 billion, a P/E ratio of -11.19 and a beta of 0.72.

NovoCure (NASDAQ:NVCR - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.16. The company had revenue of $154.99 million for the quarter, compared to analyst estimates of $147.57 million. NovoCure had a negative net margin of 26.41% and a negative return on equity of 45.46%. The company's revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.36) earnings per share. As a group, research analysts anticipate that NovoCure will post -1.3 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NVCR. Bank of New York Mellon Corp lifted its holdings in shares of NovoCure by 3.2% in the fourth quarter. Bank of New York Mellon Corp now owns 322,530 shares of the medical equipment provider's stock worth $9,611,000 after acquiring an additional 10,071 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in NovoCure by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 836,214 shares of the medical equipment provider's stock worth $24,919,000 after purchasing an additional 11,771 shares during the last quarter. Proficio Capital Partners LLC bought a new position in NovoCure during the 4th quarter worth approximately $899,000. Raymond James Financial Inc. bought a new position in NovoCure during the 4th quarter worth approximately $348,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of NovoCure by 21.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,385 shares of the medical equipment provider's stock worth $816,000 after buying an additional 4,760 shares during the period. Institutional investors own 84.61% of the company's stock.

About NovoCure

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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