NovoCure (NASDAQ:NVCR) Stock Rating Upgraded by StockNews.com

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

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

NovoCure Price Performance

Shares of NovoCure stock opened at $19.32 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. NovoCure has a fifty-two week low of $11.70 and a fifty-two week high of $34.13. The firm has a fifty day moving average price of $22.83 and a two-hundred day moving average price of $21.56. The company has a market cap of $2.12 billion, a PE ratio of -13.80 and a beta of 0.63.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $161.27 million during the quarter, compared to the consensus estimate of $161.30 million. Analysts expect that NovoCure will post -1.3 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. GeoWealth Management LLC acquired a new position in NovoCure during the fourth quarter valued at approximately $27,000. Lindbrook Capital LLC boosted its holdings in shares of NovoCure by 189.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after buying an additional 1,213 shares during the period. Blue Trust Inc. boosted its holdings in shares of NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 781 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of NovoCure in the fourth quarter valued at approximately $68,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of NovoCure in the fourth quarter valued at approximately $70,000. Institutional investors and hedge funds 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.