Wedbush Reaffirms Neutral Rating for NovoCure (NASDAQ:NVCR)

Wedbush restated their neutral rating on shares of NovoCure (NASDAQ:NVCRFree Report) in a research note issued to investors on Wednesday morning, RTT News reports. The firm currently has a $21.00 price objective on the medical equipment provider’s stock.

NVCR has been the topic of a number of other reports. Evercore ISI raised their target price on shares of NovoCure from $14.00 to $15.00 and gave the company an in-line rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. raised their price objective on shares of NovoCure from $15.00 to $17.00 and gave the company a neutral rating in a research report on Tuesday, March 19th. Finally, HC Wainwright lifted their price objective on shares of NovoCure from $22.00 to $24.00 and gave the stock a neutral rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $34.13.

View Our Latest Stock Report on NVCR

NovoCure Trading Up 12.0 %

NovoCure stock opened at $14.64 on Wednesday. The stock has a market cap of $1.57 billion, a P/E ratio of -7.51 and a beta of 0.41. NovoCure has a fifty-two week low of $10.87 and a fifty-two week high of $83.60. The firm’s fifty day moving average price is $14.91 and its 200-day moving average price is $14.46. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.56 and a current ratio of 5.78.

NovoCure (NASDAQ:NVCRGet Free Report) last announced its earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.08. The business had revenue of $133.80 million for the quarter, compared to analyst estimates of $133.80 million. NovoCure had a negative return on equity of 51.63% and a negative net margin of 40.65%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.36) EPS. Equities research analysts forecast that NovoCure will post -1.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NovoCure news, EVP Frank X. Leonard sold 1,679 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.03, for a total transaction of $26,914.37. Following the completion of the sale, the executive vice president now directly owns 160,938 shares in the company, valued at $2,579,836.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Frank X. Leonard sold 1,679 shares of NovoCure stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.03, for a total value of $26,914.37. Following the transaction, the executive vice president now directly owns 160,938 shares of the company’s stock, valued at $2,579,836.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Frank X. Leonard sold 2,078 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total value of $33,538.92. Following the completion of the sale, the executive vice president now directly owns 162,617 shares in the company, valued at $2,624,638.38. The disclosure for this sale can be found here. Insiders have sold a total of 7,921 shares of company stock worth $127,161 in the last 90 days. 5.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On NovoCure

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in NovoCure by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 9,759,098 shares of the medical equipment provider’s stock valued at $145,703,000 after acquiring an additional 122,105 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of NovoCure by 7.7% during the 4th quarter. Legal & General Group Plc now owns 192,508 shares of the medical equipment provider’s stock valued at $2,874,000 after purchasing an additional 13,704 shares in the last quarter. Voya Investment Management LLC increased its position in shares of NovoCure by 96.1% during the fourth quarter. Voya Investment Management LLC now owns 159,885 shares of the medical equipment provider’s stock valued at $2,387,000 after buying an additional 78,357 shares during the period. Oracle Alpha Inc. bought a new stake in shares of NovoCure during the 4th quarter valued at $191,000. Finally, Royal Bank of Canada increased its stake in shares of NovoCure by 382.2% in the 4th quarter. Royal Bank of Canada now owns 63,072 shares of the medical equipment provider’s stock worth $941,000 after acquiring an additional 49,992 shares in the last quarter. Institutional investors own 84.61% of the company’s stock.

About NovoCure

(Get Free Report)

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.

Further Reading

Analyst Recommendations for NovoCure (NASDAQ:NVCR)

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