NovoCure (NASDAQ:NVCR) Raised to “Hold” at StockNews.com

NovoCure (NASDAQ:NVCR) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Other analysts have also issued reports about the stock. Wedbush reissued a “neutral” rating and set a $29.00 target price on shares of NovoCure in a research note on Monday, January 13th. Piper Sandler boosted their price target on shares of NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. HC Wainwright restated a “buy” rating and set a $38.00 price target on shares of NovoCure in a report on Tuesday, January 14th. Finally, Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $18.00 to $30.00 in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.80.

NovoCure Trading Down 0.2 %

Shares of NASDAQ:NVCR opened at $19.32 on Tuesday. The company has a 50 day moving average of $22.83 and a 200-day moving average of $21.56. The firm has a market cap of $2.12 billion, a P/E ratio of -13.80 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 current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27.

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). NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business had revenue of $161.27 million for the quarter, compared to analyst estimates of $161.30 million. As a group, analysts anticipate that NovoCure will post -1.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Mackenzie Financial Corp acquired a new position in shares of NovoCure during the 4th quarter worth $203,000. GF Fund Management CO. LTD. bought a new stake in shares of NovoCure during the 4th quarter worth $68,000. Soleus Capital Management L.P. bought a new stake in shares of NovoCure during the 4th quarter worth $81,643,000. Teza Capital Management LLC boosted its holdings in shares of NovoCure by 573.0% during the 4th quarter. Teza Capital Management LLC now owns 100,200 shares of the medical equipment provider’s stock worth $2,986,000 after buying an additional 85,312 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of NovoCure by 264.6% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,901 shares of the medical equipment provider’s stock worth $206,000 after buying an additional 5,008 shares during the period. 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.