NovoCure Limited (NASDAQ:NVCR – Get Free Report)’s stock price gapped up prior to trading on Friday after Piper Sandler raised their price target on the stock from $28.00 to $42.00. The stock had previously closed at $30.06, but opened at $31.22. Piper Sandler currently has an overweight rating on the stock. NovoCure shares last traded at $31.99, with a volume of 128,065 shares traded.
Other equities analysts also recently issued research reports about the stock. Wedbush reissued a “neutral” rating and set a $29.00 price target (up previously from $24.00) on shares of NovoCure in a report on Monday, December 2nd. Evercore ISI upgraded NovoCure from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $18.00 to $30.00 in a research report on Monday, December 2nd. Finally, HC Wainwright reiterated a “buy” rating and set a $38.00 price target (up previously from $30.00) on shares of NovoCure in a research report on Monday, December 2nd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.
Check Out Our Latest Analysis on NVCR
Institutional Trading of NovoCure
NovoCure Trading Up 6.4 %
The business’s 50 day simple moving average is $18.80 and its 200 day simple moving average is $18.78. 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 stock has a market cap of $3.46 billion, a P/E ratio of -22.85 and a beta of 0.75.
NovoCure (NASDAQ:NVCR – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm had revenue of $155.10 million for the quarter, compared to analyst estimates of $143.95 million. During the same period in the previous year, the business earned ($0.46) earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, analysts expect that NovoCure Limited will post -1.32 earnings per share for the current fiscal year.
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.
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