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

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

NVCR has been the topic of a number of other research reports. Wedbush reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of NovoCure in a research note on Monday, January 13th. Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. Piper Sandler boosted their price target on shares of NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $38.00 target price on shares of NovoCure in a research note on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $35.80.

NovoCure Trading Down 0.6 %

Shares of NASDAQ:NVCR opened at $18.86 on Friday. The company has a market cap of $2.07 billion, a P/E ratio of -13.47 and a beta of 0.63. 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 stock’s fifty day moving average price is $21.72 and its 200-day moving average price is $21.68. NovoCure has a 1 year low of $11.70 and a 1 year high of $34.13.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.27). The business had revenue of $161.27 million for 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%. Sell-side analysts expect that NovoCure will post -1.3 earnings per share for the current year.

Hedge Funds Weigh In On NovoCure

Several institutional investors and hedge funds have recently modified their holdings of the stock. Summit Investment Advisors Inc. raised its stake in shares of NovoCure by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,141 shares of the medical equipment provider’s stock worth $332,000 after buying an additional 708 shares during the period. Blue Trust Inc. increased its position in shares of NovoCure by 70.7% during 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 during the last quarter. Versant Capital Management Inc raised its position in NovoCure by 35.8% in the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after purchasing an additional 880 shares during the period. GeoWealth Management LLC acquired a new position in NovoCure during the 4th quarter worth about $27,000. Finally, Lindbrook Capital LLC lifted its position in shares of NovoCure by 189.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock worth $55,000 after purchasing an additional 1,213 shares in the last quarter. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.