NovoCure (NASDAQ:NVCR) Raised to Hold at StockNews.com

StockNews.com upgraded shares of NovoCure (NASDAQ:NVCR) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

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

NovoCure Price Performance

Shares of NASDAQ:NVCR opened at $15.58 on Thursday. The stock has a market capitalization of $1.71 billion, a P/E ratio of -11.13 and a beta of 0.65. The business has a 50-day moving average of $19.06 and a two-hundred day moving average of $21.53. NovoCure has a fifty-two week low of $11.70 and a fifty-two week 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 posted its earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.27). NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The company had revenue of $161.27 million during the quarter, compared to analyst estimates of $161.30 million. On average, equities research analysts predict that NovoCure will post -1.3 EPS for the current fiscal year.

Hedge Funds Weigh In On NovoCure

A number of hedge funds have recently made changes to their positions in the business. GeoWealth Management LLC bought a new stake in NovoCure in the fourth quarter valued at about $27,000. Lindbrook Capital LLC grew 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. raised its holdings in shares of NovoCure by 70.7% in the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 781 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of NovoCure during the 4th quarter worth approximately $68,000. Finally, SBI Securities Co. Ltd. acquired a new stake in NovoCure in the 4th quarter valued at $70,000. Institutional investors and hedge funds 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.