NovoCure (NASDAQ:NVCR) Rating Increased to Hold at StockNews.com

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

Other equities analysts also recently issued reports about the stock. Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $18.00 to $30.00 in a report on Monday, December 2nd. HC Wainwright reissued a “buy” rating and set a $38.00 target price on shares of NovoCure in a research report on Tuesday, January 14th. Wedbush reaffirmed a “neutral” rating and issued a $29.00 price target on shares of NovoCure in a report on Monday, January 13th. Finally, Piper Sandler increased their price objective on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, NovoCure currently has an average rating of “Moderate Buy” and an average target price of $32.67.

NovoCure Stock Performance

NASDAQ:NVCR opened at $19.36 on Tuesday. The firm has a market capitalization of $2.13 billion, a P/E ratio of -13.83 and a beta of 0.63. NovoCure has a twelve month low of $11.70 and a twelve month high of $34.13. The company has a fifty day moving average of $23.02 and a 200-day moving average of $21.58. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27.

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

Hedge Funds Weigh In On NovoCure

A number of institutional investors have recently added to or reduced their stakes in the business. Mackenzie Financial Corp purchased a new stake in shares of NovoCure during the 4th quarter valued at $203,000. GF Fund Management CO. LTD. purchased a new stake in NovoCure in the fourth quarter worth approximately $68,000. Soleus Capital Management L.P. bought a new position in NovoCure during the fourth quarter valued at approximately $81,643,000. Teza Capital Management LLC lifted its holdings in shares of NovoCure by 573.0% in the 4th quarter. Teza Capital Management LLC now owns 100,200 shares of the medical equipment provider’s stock worth $2,986,000 after acquiring an additional 85,312 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in NovoCure by 264.6% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,901 shares of the medical equipment provider’s stock valued at $206,000 after buying an additional 5,008 shares during the period. 84.61% of the stock is currently owned by institutional investors.

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.