HC Wainwright Reiterates Buy Rating for NovoCure (NASDAQ:NVCR)

NovoCure (NASDAQ:NVCR)‘s stock had its “buy” rating reiterated by HC Wainwright in a report released on Thursday, Benzinga reports. They presently have a $30.00 price objective on the medical equipment provider’s stock. HC Wainwright’s target price would indicate a potential upside of 85.41% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company decreased their price objective on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Wedbush reiterated an “outperform” rating and issued a $24.00 price objective on shares of NovoCure in a report on Thursday, July 25th. Finally, Evercore ISI decreased their price objective on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating for the company in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, NovoCure has a consensus rating of “Moderate Buy” and a consensus price target of $26.17.

NovoCure Trading Up 6.6 %

NASDAQ NVCR opened at $16.18 on Thursday. NovoCure has a twelve month low of $10.87 and a twelve month high of $24.74. The company has a debt-to-equity ratio of 1.81, a quick ratio of 6.22 and a current ratio of 6.46. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -11.56 and a beta of 0.70. The firm’s 50 day moving average price is $16.76 and its two-hundred day moving average price is $17.88.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.47%. The firm had revenue of $155.10 million for the quarter, compared to analysts’ expectations of $143.95 million. During the same period in the previous year, the company posted ($0.46) EPS. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. Equities analysts anticipate that NovoCure will post -1.35 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Lombard Odier Asset Management USA Corp raised its position in shares of NovoCure by 5.4% during the second quarter. Lombard Odier Asset Management USA Corp now owns 10,862 shares of the medical equipment provider’s stock valued at $186,000 after buying an additional 557 shares during the last quarter. Arizona State Retirement System raised its position in shares of NovoCure by 2.1% during the second quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider’s stock valued at $488,000 after buying an additional 581 shares during the last quarter. Signaturefd LLC raised its position in shares of NovoCure by 61.7% during the second quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 627 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of NovoCure by 21.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock valued at $61,000 after buying an additional 701 shares during the last quarter. Finally, Ridgewood Investments LLC acquired a new position in NovoCure in the second quarter worth about $28,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.