NovoCure (NASDAQ:NVCR) Earns Neutral Rating from Wedbush

Wedbush reissued their neutral rating on shares of NovoCure (NASDAQ:NVCR) in a research report sent to investors on Thursday, RTT News reports. They currently have a $21.00 price target on the medical equipment provider’s stock.

A number of other research firms have also commented on NVCR. Wells Fargo & Company lowered their price target on NovoCure from $49.00 to $42.00 and set an overweight rating for the company in a research report on Wednesday, April 3rd. Evercore ISI upped their target price on NovoCure from $14.00 to $15.00 and gave the company an in-line rating in a report on Friday, February 23rd. JPMorgan Chase & Co. lifted their price target on shares of NovoCure from $15.00 to $17.00 and gave the company a neutral rating in a report on Tuesday, March 19th. Piper Sandler reissued an overweight rating and set a $28.00 price objective (up from $25.00) on shares of NovoCure in a research report on Wednesday, April 10th. Finally, HC Wainwright dropped their target price on shares of NovoCure from $24.00 to $22.00 and set a neutral rating for the company in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $30.88.

NovoCure Trading Up 4.2 %

NovoCure stock traded up $0.59 during trading hours on Thursday, reaching $14.78. The company had a trading volume of 1,145,704 shares, compared to its average volume of 1,092,427. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.78 and a quick ratio of 5.56. NovoCure has a 12-month low of $10.87 and a 12-month high of $83.60. The company has a 50-day moving average price of $14.21 and a 200 day moving average price of $13.87. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -8.17 and a beta of 0.50.

NovoCure (NASDAQ:NVCR) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.07. The company had revenue of $138.50 million for the quarter, compared to the consensus estimate of $131.44 million. NovoCure had a negative net margin of 36.67% and a negative return on equity of 49.34%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.50) earnings per share. Equities analysts forecast that NovoCure will post -1.78 earnings per share for the current year.

Insider Activity at NovoCure

In other NovoCure news, EVP Frank X. Leonard sold 2,078 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $16.14, for a total value of $33,538.92. Following the sale, the executive vice president now owns 162,617 shares in the company, valued at $2,624,638.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other NovoCure news, COO Wilhelmus Cm Groenhuysen sold 2,107 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $33,775.21. Following the sale, the chief operating officer now directly owns 252,452 shares of the company’s stock, valued at $4,046,805.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Frank X. Leonard sold 2,078 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $16.14, for a total value of $33,538.92. Following the transaction, the executive vice president now owns 162,617 shares of the company’s stock, valued at $2,624,638.38. The disclosure for this sale can be found here. Insiders sold a total of 7,921 shares of company stock valued at $127,161 in the last three months. Company insiders own 5.67% of the company’s stock.

Institutional Trading of NovoCure

Institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in shares of NovoCure in the fourth quarter worth approximately $14,543,000. Federated Hermes Inc. lifted its position in NovoCure by 807.8% in the 4th quarter. Federated Hermes Inc. now owns 616,792 shares of the medical equipment provider’s stock valued at $9,209,000 after acquiring an additional 548,852 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in NovoCure during the 4th quarter valued at $6,479,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of NovoCure by 490.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 408,839 shares of the medical equipment provider’s stock worth $6,603,000 after purchasing an additional 339,610 shares in the last quarter. Finally, C WorldWide Group Holding A S raised its stake in shares of NovoCure by 135.3% in the fourth quarter. C WorldWide Group Holding A S now owns 521,784 shares of the medical equipment provider’s stock worth $7,790,000 after purchasing an additional 300,000 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other 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.