NovoCure's (NVCR) Sell (E+) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "sell (E+)" rating for NovoCure (NVCR), indicating a negative outlook on the stock's performance.
• Current analysts give NovoCure an average rating of "Hold" with a consensus target price of $27.50, amidst various ratings that range from "buy" to "sell" from different research analysts.
• NovoCure's CFO and CEO have recently made significant share purchases, with the CFO acquiring 20,000 shares at an average price of $11.59 and the CEO acquiring 81,550 shares at $12.22 each, signaling insider confidence.

NovoCure (NASDAQ:NVCR - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other research analysts also recently issued reports about the company. LADENBURG THALM/SH SH started coverage on NovoCure in a research note on Tuesday, July 8th. They issued a "buy" rating and a $30.00 price objective on the stock. Wedbush reaffirmed a "neutral" rating and issued a $18.00 price target on shares of NovoCure in a research report on Tuesday, September 30th. Wells Fargo & Company reiterated an "equal weight" rating and set a $14.50 price target (down from $40.00) on shares of NovoCure in a report on Friday, July 25th. Finally, Piper Sandler reiterated an "overweight" rating and set a $34.00 price target on shares of NovoCure in a report on Friday, June 27th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, NovoCure has an average rating of "Hold" and a consensus target price of $27.50.

NovoCure Stock Up 1.3%

Shares of NVCR stock opened at $14.35 on Wednesday. The stock's 50 day simple moving average is $12.41 and its 200 day simple moving average is $15.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.39 and a current ratio of 1.45. NovoCure has a twelve month low of $10.87 and a twelve month high of $34.13. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -9.20 and a beta of 0.75.

NovoCure (NASDAQ:NVCR - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The medical equipment provider reported ($0.36) earnings per share for the quarter, beating analysts' consensus estimates of ($0.39) by $0.03. NovoCure had a negative return on equity of 47.74% and a negative net margin of 27.13%.The business had revenue of $158.80 million for the quarter, compared to the consensus estimate of $153.87 million. During the same period last year, the business earned ($0.31) EPS. The firm's revenue was up 5.6% compared to the same quarter last year. As a group, research analysts predict that NovoCure will post -1.3 EPS for the current year.

Insiders Place Their Bets

In other NovoCure news, CFO Christoph Brackmann acquired 20,000 shares of NovoCure stock in a transaction on Tuesday, July 29th. The shares were bought at an average price of $11.59 per share, with a total value of $231,800.00. Following the completion of the purchase, the chief financial officer owned 141,150 shares in the company, valued at $1,635,928.50. This trade represents a 16.51% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ashley Cordova acquired 81,550 shares of NovoCure stock in a transaction on Friday, September 5th. The stock was acquired at an average cost of $12.22 per share, for a total transaction of $996,541.00. Following the purchase, the chief executive officer owned 437,569 shares of the company's stock, valued at approximately $5,347,093.18. This represents a 22.91% increase in their position. The disclosure for this purchase can be found here. 5.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Soleus Capital Management L.P. grew its stake in NovoCure by 25.0% in the second quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider's stock valued at $122,897,000 after purchasing an additional 1,382,888 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in NovoCure by 38.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider's stock valued at $40,407,000 after acquiring an additional 634,925 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in NovoCure by 154.0% in the 1st 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 in the last quarter. Quantinno Capital Management LP raised its holdings in NovoCure by 38.5% in the 2nd quarter. Quantinno Capital Management LP now owns 1,368,663 shares of the medical equipment provider's stock valued at $24,362,000 after acquiring an additional 380,411 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in NovoCure by 1,354.7% in the 2nd quarter. American Century Companies Inc. now owns 1,029,874 shares of the medical equipment provider's stock valued at $18,332,000 after acquiring an additional 959,079 shares in the last quarter. 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.

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