NovoCure (NASDAQ:NVCR) Price Target Raised to $17.00 at Wells Fargo & Company

Key Points

• Wells Fargo raised its price target on NovoCure from $13.50 to $17.00 and kept an "equal weight" rating, implying only about a 1.74% upside from the current share price.
• Analyst views are mixed—four Buys, three Holds and one Sell—resulting in an average consensus rating of Hold and an average price target of $27.29.
• In the latest quarter revenue rose 12.3% to $174.06M (above estimates) but EPS of ($0.62) missed expectations, leaving the company unprofitable with analysts forecasting roughly -1.51 EPS for the year; insiders have also been net sellers recently.

NovoCure (NASDAQ:NVCR - Get Free Report) had its target price lifted by analysts at Wells Fargo & Company from $13.50 to $17.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the medical equipment provider's stock. Wells Fargo & Company's target price points to a potential upside of 1.74% from the stock's current price.

A number of other analysts have also weighed in on the stock. Evercore reiterated an "outperform" rating on shares of NovoCure in a report on Friday. Weiss Ratings reiterated a "sell (e+)" rating on shares of NovoCure in a report on Tuesday, April 21st. HC Wainwright raised their price objective on shares of NovoCure from $47.00 to $49.00 and gave the stock a "buy" rating in a report on Thursday, February 26th. Finally, Wedbush restated a "neutral" rating and issued a $18.00 price objective on shares of NovoCure in a report on Thursday, April 16th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, NovoCure currently has an average rating of "Hold" and an average price target of $27.29.

NovoCure Trading Up 0.5%

Shares of NovoCure stock traded up $0.09 during trading on Monday, reaching $16.71. 2,075,020 shares of the stock were exchanged, compared to its average volume of 1,821,839. The company has a quick ratio of 2.71, a current ratio of 2.90 and a debt-to-equity ratio of 0.70. The stock's fifty day moving average is $12.11 and its 200 day moving average is $12.44. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -10.92 and a beta of 0.90. NovoCure has a 1 year low of $9.82 and a 1 year high of $20.06.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its earnings results on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.11). The firm had revenue of $174.06 million for the quarter, compared to analysts' expectations of $167.77 million. NovoCure had a negative return on equity of 50.34% and a negative net margin of 25.66%.The business's revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.31) earnings per share. As a group, equities research analysts expect that NovoCure will post -1.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Uri Weinberg sold 6,412 shares of NovoCure stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $13.31, for a total transaction of $85,343.72. Following the completion of the transaction, the insider directly owned 267,190 shares in the company, valued at approximately $3,556,298.90. This trade represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman William F. Doyle sold 71,887 shares of NovoCure stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $12.98, for a total transaction of $933,093.26. Following the transaction, the chairman owned 328,397 shares of the company's stock, valued at $4,262,593.06. The trade was a 17.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 140,041 shares of company stock valued at $1,860,116 over the last ninety days. 5.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NovoCure

Large investors have recently made changes to their positions in the business. Empowered Funds LLC purchased a new position in shares of NovoCure during the fourth quarter valued at approximately $33,000. Kestra Advisory Services LLC purchased a new position in shares of NovoCure during the fourth quarter valued at approximately $49,000. Larson Financial Group LLC lifted its holdings in shares of NovoCure by 662.1% during the third quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider's stock valued at $53,000 after purchasing an additional 3,562 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of NovoCure during the second quarter valued at approximately $88,000. Finally, Acadian Asset Management LLC purchased a new position in shares of NovoCure during the first quarter valued at approximately $87,000. 84.61% of the stock is currently owned by hedge funds and other institutional investors.

NovoCure Company Profile

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company's non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure's approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.

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