StockNews.com Downgrades NovoCure (NASDAQ:NVCR) to Sell

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

Several other research firms also recently weighed in on NVCR. Piper Sandler lifted their price objective on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Wedbush reissued a “neutral” rating and set a $29.00 target price on shares of NovoCure in a research report on Monday, January 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.80.

NovoCure Stock Down 7.5 %

Shares of NASDAQ:NVCR opened at $15.37 on Wednesday. The firm has a market capitalization of $1.69 billion, a PE ratio of -10.98 and a beta of 0.65. The business has a 50 day simple moving average of $20.21 and a two-hundred day simple moving average of $21.59. NovoCure has a 1 year low of $11.70 and a 1 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.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.27). The company had revenue of $161.27 million during the quarter, compared to analysts’ expectations of $161.30 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. On average, equities analysts predict that NovoCure will post -1.3 EPS for the current year.

Hedge Funds Weigh In On NovoCure

A number of large investors have recently added to or reduced their stakes in NVCR. GeoWealth Management LLC bought a new stake in shares of NovoCure in the 4th quarter valued at about $27,000. Lindbrook Capital LLC lifted its position in NovoCure by 189.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after acquiring an additional 1,213 shares during the last quarter. Blue Trust Inc. boosted its stake in 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 acquiring an additional 781 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in NovoCure in the fourth quarter valued at approximately $68,000. Finally, SBI Securities Co. Ltd. purchased a new position in NovoCure in the fourth quarter worth $70,000. 84.61% of the stock is currently owned by institutional investors.

About NovoCure

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.