NovoCure (NASDAQ:NVCR) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of NovoCure (NASDAQ:NVCR - Free Report) from a hold rating to a sell rating in a research note released on Friday.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price target 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. Piper Sandler decreased their price target on NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. HC Wainwright restated a "buy" rating and issued a $38.00 target price on shares of NovoCure in a report on Tuesday, January 14th. Finally, Wedbush reduced their target price on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, NovoCure currently has a consensus rating of "Hold" and an average target price of $32.83.

NovoCure Stock Performance

Shares of NASDAQ NVCR traded down $0.15 during midday trading on Friday, hitting $18.14. 753,722 shares of the company's stock were exchanged, compared to its average volume of 1,183,062. NovoCure has a 12 month low of $12.17 and a 12 month high of $34.13. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $2.02 billion, a PE ratio of -12.96 and a beta of 0.65. The company's 50 day moving average price is $18.26 and its 200 day moving average price is $21.69.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share for the quarter, topping analysts' consensus estimates of ($0.47) by $0.16. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business had revenue of $154.99 million during the quarter, compared to the consensus estimate of $147.57 million. During the same quarter last year, the firm earned ($0.36) earnings per share. NovoCure's quarterly revenue was up 11.9% on a year-over-year basis. As a group, analysts predict that NovoCure will post -1.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NovoCure

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVCR. Soleus Capital Management L.P. bought a new position in shares of NovoCure in the 4th quarter worth about $81,643,000. Capital International Investors increased its holdings in NovoCure by 12.0% in the fourth quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider's stock worth $264,442,000 after buying an additional 951,141 shares during the last quarter. Granite Investment Partners LLC bought a new stake in NovoCure during the fourth quarter worth approximately $20,464,000. Emerald Advisers LLC bought a new position in shares of NovoCure in the fourth quarter worth about $16,317,000. Finally, Capital World Investors lifted its stake in shares of NovoCure by 11.8% in the fourth quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider's stock valued at $143,503,000 after buying an additional 507,311 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.