A number of other equities analysts have also weighed in on NVCR. SunTrust Banks initiated coverage on Zoetis in a research report on Tuesday, March 19th. They set a “hold” rating and a $100.00 target price on the stock. Wedbush set a $79.00 target price on Aimmune Therapeutics and gave the stock a “buy” rating in a research report on Friday, May 24th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novocure in a research report on Sunday, May 26th. ValuEngine raised XOMA from a “sell” rating to a “hold” rating in a research report on Friday, May 24th. Finally, Oppenheimer initiated coverage on Novocure in a report on Friday, June 28th. They set an “outperform” rating and a $75.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $52.44.
Shares of NASDAQ:NVCR opened at $68.88 on Friday. The company has a current ratio of 4.73, a quick ratio of 4.39 and a debt-to-equity ratio of 1.27. Novocure has a twelve month low of $26.02 and a twelve month high of $69.59. The stock’s 50 day moving average price is $58.39.
Novocure (NASDAQ:NVCR) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.13) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.13). Novocure had a negative return on equity of 47.23% and a negative net margin of 20.42%. The company had revenue of $73.31 million for the quarter, compared to analyst estimates of $72.85 million. During the same period in the prior year, the firm earned ($0.23) earnings per share. Novocure’s revenue for the quarter was up 40.6% on a year-over-year basis. Equities analysts predict that Novocure will post -0.17 EPS for the current fiscal year.
In other Novocure news, CEO Asaf Danziger sold 30,436 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $55.39, for a total value of $1,685,850.04. Following the completion of the transaction, the chief executive officer now owns 275,146 shares in the company, valued at approximately $15,240,336.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Pritesh Shah sold 1,204 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $43.80, for a total value of $52,735.20. The disclosure for this sale can be found here. Insiders have sold 846,470 shares of company stock valued at $48,223,770 in the last quarter. 5.60% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Campbell & CO Investment Adviser LLC bought a new stake in shares of Novocure in the 2nd quarter worth approximately $241,000. Cortina Asset Management LLC lifted its stake in shares of Novocure by 13.0% in the 2nd quarter. Cortina Asset Management LLC now owns 141,352 shares of the medical equipment provider’s stock valued at $8,938,000 after purchasing an additional 16,291 shares during the period. Cerebellum GP LLC purchased a new position in shares of Novocure in the 1st quarter valued at approximately $300,000. Trexquant Investment LP lifted its stake in shares of Novocure by 355.1% in the 1st quarter. Trexquant Investment LP now owns 32,438 shares of the medical equipment provider’s stock valued at $1,563,000 after purchasing an additional 25,310 shares during the period. Finally, Granite Investment Partners LLC lifted its stake in shares of Novocure by 19.1% in the 1st quarter. Granite Investment Partners LLC now owns 396,158 shares of the medical equipment provider’s stock valued at $19,083,000 after purchasing an additional 63,491 shares during the period. Hedge funds and other institutional investors own 65.34% of the company’s stock.
Novocure Company Profile
Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.
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