JPMorgan Chase & Co. Has Lowered Expectations for NovoCure (NASDAQ:NVCR) Stock Price

NovoCure (NASDAQ:NVCR) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $29.00 to $28.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 69.70% from the company’s current price.

A number of other research analysts have also recently issued reports on NVCR. HC Wainwright reissued a “buy” rating and issued a $38.00 price objective on shares of NovoCure in a research note on Tuesday, January 14th. Wedbush reissued a “neutral” rating and issued a $29.00 target price on shares of NovoCure in a report on Monday, January 13th. Piper Sandler upped their price objective on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, StockNews.com cut shares of NovoCure from a “hold” rating to a “sell” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $34.50.

NovoCure Stock Performance

Shares of NASDAQ NVCR opened at $16.50 on Thursday. NovoCure has a one year low of $11.70 and a one year high of $34.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of -11.79 and a beta of 0.65. The stock’s fifty day moving average price is $19.59 and its two-hundred day moving average price is $21.56.

NovoCure (NASDAQ:NVCR) last issued 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). The business had revenue of $161.27 million during the quarter, compared to analyst estimates of $161.30 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. On average, equities analysts forecast that NovoCure will post -1.3 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital International Investors raised its position in shares of NovoCure by 12.0% during the fourth quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider’s stock worth $264,442,000 after purchasing an additional 951,141 shares during the period. Capital World Investors lifted its position in NovoCure by 11.8% in the 4th quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider’s stock valued at $143,503,000 after acquiring an additional 507,311 shares in the last quarter. Soleus Capital Management L.P. purchased a new position in shares of NovoCure during the fourth quarter valued at approximately $81,643,000. Geode Capital Management LLC boosted its position in shares of NovoCure by 1.3% during the third quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock valued at $37,601,000 after buying an additional 29,871 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in NovoCure by 39.1% during the 4th quarter. Northern Trust Corp now owns 1,284,350 shares of the medical equipment provider’s stock worth $38,274,000 after acquiring an additional 360,841 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

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.