NovoCure (NASDAQ:NVCR) Cut to “Sell” at StockNews.com

NovoCure (NASDAQ:NVCR) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Monday.

Several other analysts have also recently weighed in on NVCR. Piper Sandler raised their target price on shares of NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $18.00 to $30.00 in a report on Monday, December 2nd. Wedbush reaffirmed a “neutral” rating and set a $29.00 price objective on shares of NovoCure in a research report on Monday, January 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $38.00 target price on shares of NovoCure in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $32.67.

NovoCure Stock Down 3.5 %

Shares of NASDAQ:NVCR traded down $0.66 during trading on Monday, hitting $18.41. The company’s stock had a trading volume of 1,524,763 shares, compared to its average volume of 1,242,091. The company has a market capitalization of $1.99 billion, a PE ratio of -13.15 and a beta of 0.62. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. NovoCure has a fifty-two week low of $11.70 and a fifty-two week high of $34.13. The business has a 50 day moving average price of $25.33 and a two-hundred day moving average price of $21.46.

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

Institutional Investors Weigh In On NovoCure

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GeoWealth Management LLC acquired a new position in NovoCure in the fourth quarter valued at $27,000. Brooklyn Investment Group acquired a new stake in shares of NovoCure in the 3rd quarter valued at about $45,000. Lindbrook Capital LLC boosted its position in shares of NovoCure by 189.2% in the 4th 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 period. Blue Trust Inc. grew its stake in NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 781 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its position in NovoCure by 58.5% during the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock worth $57,000 after buying an additional 1,354 shares during the period. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.