NovoCure (NASDAQ:NVCR) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of NovoCure (NASDAQ:NVCR) from a hold rating to a sell rating in a report released on Saturday.

Several other research analysts also recently commented on NVCR. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of NovoCure in a research note on Tuesday, January 14th. Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $18.00 to $30.00 in a research report on Monday, December 2nd. Wedbush reiterated a “neutral” rating and issued a $29.00 price target on shares of NovoCure in a report on Monday, January 13th. Finally, Piper Sandler increased their price objective on NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, NovoCure has a consensus rating of “Moderate Buy” and a consensus price target of $35.80.

NovoCure Stock Down 0.6 %

Shares of NASDAQ:NVCR opened at $18.86 on Friday. 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 business has a 50 day simple moving average of $21.72 and a two-hundred day simple moving average of $21.64. NovoCure has a 1 year low of $11.70 and a 1 year high of $34.13. The firm has a market capitalization of $2.07 billion, a PE ratio of -13.47 and a beta of 0.63.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share (EPS) 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 business had revenue of $161.27 million for the quarter, compared to analysts’ expectations of $161.30 million. On average, equities analysts predict that NovoCure will post -1.3 EPS for the current year.

Institutional Investors Weigh In On NovoCure

Several hedge funds have recently modified their holdings of the business. Franklin Resources Inc. increased its holdings in NovoCure by 222.6% during the third quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider’s stock valued at $2,904,000 after buying an additional 124,793 shares during the period. Intech Investment Management LLC bought a new position in shares of NovoCure in the 3rd quarter worth $346,000. Geode Capital Management LLC raised its position in shares of NovoCure by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock worth $37,601,000 after acquiring an additional 29,871 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of NovoCure during the 4th quarter worth $272,000. Finally, FMR LLC boosted its position in NovoCure by 0.6% during the third quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider’s stock valued at $253,706,000 after purchasing an additional 90,422 shares in the last quarter. Hedge funds and other 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.