Novocure Ltd (NASDAQ:NVCR) has received an average recommendation of “Buy” from the ten brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $52.00.
A number of brokerages recently weighed in on NVCR. BidaskClub upgraded shares of Novocure from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 20th. JPMorgan Chase & Co. restated a “buy” rating on shares of Novocure in a report on Sunday, May 26th. ValuEngine upgraded shares of Novocure from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Finally, Wedbush reiterated an “outperform” rating and set a $57.00 target price on shares of Novocure in a research note on Friday, May 24th.
Shares of NVCR traded down $0.72 during mid-day trading on Friday, reaching $56.71. The company had a trading volume of 16,465 shares, compared to its average volume of 608,581. The company has a debt-to-equity ratio of 1.27, a current ratio of 4.73 and a quick ratio of 4.39. The stock’s 50-day moving average is $53.55. Novocure has a 52 week low of $26.02 and a 52 week high of $62.15. The stock has a market capitalization of $5.56 billion, a P/E ratio of -82.23 and a beta of 2.44.
Novocure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.13) EPS for the quarter, hitting analysts’ consensus estimates of ($0.13). Novocure had a negative return on equity of 47.23% and a negative net margin of 20.42%. The firm had revenue of $73.31 million for the quarter, compared to analysts’ expectations of $72.85 million. During the same period in the previous year, the firm posted ($0.23) EPS. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, research analysts anticipate that Novocure will post -0.17 earnings per share for the current year.
In other news, COO Michael J. Ambrogi sold 34,375 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $47.39, for a total value of $1,629,031.25. Following the completion of the sale, the chief operating officer now directly owns 207,549 shares in the company, valued at approximately $9,835,747.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pritesh Shah sold 1,204 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $43.80, for a total value of $52,735.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 682,170 shares of company stock valued at $37,431,423. Company insiders own 5.60% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Strategic Financial Services Inc bought a new position in Novocure in the 1st quarter worth $207,000. BlackRock Inc. boosted its holdings in Novocure by 1.0% in the 4th quarter. BlackRock Inc. now owns 4,796,688 shares of the medical equipment provider’s stock worth $160,592,000 after buying an additional 46,754 shares during the period. LPL Financial LLC bought a new position in Novocure in the 4th quarter worth $461,000. ETRADE Capital Management LLC boosted its holdings in Novocure by 11.0% in the 4th quarter. ETRADE Capital Management LLC now owns 18,365 shares of the medical equipment provider’s stock worth $615,000 after buying an additional 1,825 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Novocure by 158.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,670 shares of the medical equipment provider’s stock worth $290,000 after buying an additional 5,309 shares during the period. Hedge funds and other institutional investors own 65.34% of the company’s stock.
Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.
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