NovoCure (NASDAQ:NVCR) Upgraded to “Hold” at StockNews.com

NovoCure (NASDAQ:NVCR) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. reduced their price objective on NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price objective on shares of NovoCure in a report on Tuesday, January 14th. Finally, Wedbush reduced their target price on shares of NovoCure from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.17.

NovoCure Stock Performance

Shares of NASDAQ NVCR opened at $15.58 on Thursday. The stock has a market capitalization of $1.71 billion, a PE ratio of -11.13 and a beta of 0.65. NovoCure has a 52 week low of $11.70 and a 52 week high of $34.13. The stock has a 50 day moving average price of $18.95 and a 200 day moving average price of $21.54. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49.

NovoCure (NASDAQ:NVCR) last issued its earnings results 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 firm had revenue of $161.27 million during the quarter, compared to the consensus estimate of $161.30 million. Analysts predict that NovoCure will post -1.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NovoCure

A number of institutional investors have recently added to or reduced their stakes in the stock. 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 stake in shares of NovoCure by 189.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock valued at $55,000 after purchasing an additional 1,213 shares during the period. Blue Trust Inc. boosted its position in shares of NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 781 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in NovoCure during the fourth quarter worth approximately $68,000. Finally, SBI Securities Co. Ltd. bought a new stake in NovoCure in the fourth quarter worth approximately $70,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

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.