NovoCure (NASDAQ:NVCR) Given New $27.00 Price Target at Wedbush

NovoCure (NASDAQ:NVCR) had its price objective decreased by Wedbush from $29.00 to $27.00 in a report issued on Wednesday morning, MarketBeat.com reports. Wedbush currently has a neutral rating on the medical equipment provider’s stock.

NVCR has been the topic of a number of other reports. HC Wainwright reiterated a “buy” rating and issued a $38.00 price target on shares of NovoCure in a report on Tuesday, January 14th. StockNews.com cut NovoCure from a “hold” rating to a “sell” rating in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. dropped their price target on NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NovoCure presently has a consensus rating of “Moderate Buy” and an average target price of $34.17.

NovoCure Stock Performance

NASDAQ NVCR opened at $15.83 on Wednesday. The business has a 50-day moving average price of $19.18 and a 200-day moving average price of $21.53. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -11.31 and a beta of 0.65. NovoCure has a twelve month low of $11.70 and a twelve month high of $34.13. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR) last announced 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). The company 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%. As a group, equities research analysts predict that NovoCure will post -1.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. raised its position 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 purchasing an additional 124,793 shares during the period. Geode Capital Management LLC increased its position in shares of NovoCure by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock valued at $37,601,000 after purchasing an additional 29,871 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in NovoCure during the 4th quarter valued at $272,000. Versant Capital Management Inc lifted 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 worth $100,000 after buying an additional 880 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in NovoCure by 362.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 70,601 shares of the medical equipment provider’s stock worth $2,104,000 after buying an additional 55,334 shares during the last quarter. 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.