NovoCure (NASDAQ:NVCR) Given New $39.00 Price Target at HC Wainwright

NovoCure (NASDAQ:NVCR) had its target price reduced by HC Wainwright from $42.00 to $39.00 in a research report released on Tuesday morning, Marketbeat Ratings reports. They currently have a buy rating on the medical equipment provider’s stock.

Other equities analysts have also issued research reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of NovoCure in a research note on Wednesday, October 8th. Evercore ISI set a $20.00 target price on NovoCure in a report on Monday, January 5th. JPMorgan Chase & Co. reduced their target price on shares of NovoCure from $25.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday, October 27th. Finally, Wedbush reaffirmed a “neutral” rating and set a $18.00 price target on shares of NovoCure in a research report on Tuesday, September 30th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, NovoCure currently has an average rating of “Hold” and an average price target of $25.50.

NovoCure Price Performance

Shares of NVCR opened at $13.65 on Tuesday. The company’s 50-day moving average is $12.62 and its 200-day moving average is $13.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.55 and a quick ratio of 1.50. The firm has a market capitalization of $1.53 billion, a PE ratio of -8.48 and a beta of 0.73. NovoCure has a fifty-two week low of $10.70 and a fifty-two week high of $27.70.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, October 30th. The medical equipment provider reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.09. The business had revenue of $167.20 million during the quarter, compared to the consensus estimate of $158.81 million. NovoCure had a negative net margin of 27.66% and a negative return on equity of 50.29%. NovoCure’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.28) EPS. Equities analysts forecast that NovoCure will post -1.3 EPS for the current year.

Institutional Investors Weigh In On NovoCure

Several institutional investors and hedge funds have recently bought and sold shares of the company. Soleus Capital Management L.P. grew its stake in NovoCure by 25.0% during the second quarter. Soleus Capital Management L.P. now owns 6,904,302 shares of the medical equipment provider’s stock worth $122,897,000 after buying an additional 1,382,888 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in NovoCure by 154.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,782,159 shares of the medical equipment provider’s stock valued at $31,758,000 after acquiring an additional 1,080,514 shares during the last quarter. American Century Companies Inc. lifted its stake in NovoCure by 1,354.7% during the second quarter. American Century Companies Inc. now owns 1,029,874 shares of the medical equipment provider’s stock worth $18,332,000 after purchasing an additional 959,079 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of NovoCure by 106.5% in the 3rd quarter. Millennium Management LLC now owns 1,335,490 shares of the medical equipment provider’s stock valued at $17,255,000 after purchasing an additional 688,710 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its stake in shares of NovoCure by 38.8% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,270,076 shares of the medical equipment provider’s stock valued at $40,407,000 after purchasing an additional 634,925 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

About NovoCure

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.