NovoCure (NASDAQ:NVCR) Upgraded at StockNews.com

StockNews.com upgraded shares of NovoCure (NASDAQ:NVCR) from a sell rating to a hold rating in a research report released on Tuesday.

A number of other research firms have also issued reports on NVCR. Wedbush reissued a “neutral” rating and issued a $29.00 target price on shares of NovoCure in a report on Monday, January 13th. Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $18.00 to $30.00 in a report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and issued a $38.00 target price on shares of NovoCure in a report on Tuesday, January 14th. Finally, Piper Sandler upped their price objective on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.80.

NovoCure Price Performance

Shares of NASDAQ NVCR opened at $19.18 on Tuesday. The stock has a market cap of $2.11 billion, a P/E ratio of -13.70 and a beta of 0.63. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average of $22.63 and a two-hundred day moving average of $21.54. NovoCure has a twelve month low of $11.70 and a twelve month high of $34.13.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.27). The company had revenue of $161.27 million during the quarter, compared to analyst estimates of $161.30 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. On average, research analysts forecast that NovoCure will post -1.3 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. GeoWealth Management LLC acquired a new position in NovoCure during the fourth quarter worth $27,000. Brooklyn Investment Group acquired a new stake in NovoCure in the third quarter valued at $45,000. Lindbrook Capital LLC grew its holdings in NovoCure by 189.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after purchasing an additional 1,213 shares during the last quarter. Blue Trust Inc. grew its holdings in NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 781 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in NovoCure in the fourth quarter valued at $68,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.