NovoCure (NASDAQ:NVCR) Receives Neutral Rating from Wedbush

Wedbush reaffirmed their neutral rating on shares of NovoCure (NASDAQ:NVCR) in a report published on Wednesday morning, RTT News reports. Wedbush currently has a $21.00 price target on the medical equipment provider’s stock.

NVCR has been the subject of several other research reports. Evercore ISI raised their price objective on NovoCure from $14.00 to $15.00 and gave the company an in-line rating in a report on Friday, February 23rd. JPMorgan Chase & Co. upped their price objective on NovoCure from $15.00 to $17.00 and gave the stock a neutral rating in a research note on Tuesday, March 19th. Finally, HC Wainwright increased their price objective on NovoCure from $22.00 to $24.00 and gave the company a neutral rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, NovoCure currently has a consensus rating of Moderate Buy and a consensus price target of $34.13.

NovoCure Trading Up 12.0 %

NASDAQ:NVCR opened at $14.64 on Wednesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.78 and a quick ratio of 5.56. The stock has a market capitalization of $1.57 billion, a PE ratio of -7.51 and a beta of 0.41. The business’s 50-day simple moving average is $14.91 and its 200-day simple moving average is $14.46. NovoCure has a fifty-two week low of $10.87 and a fifty-two week high of $83.60.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.08. NovoCure had a negative net margin of 40.65% and a negative return on equity of 51.63%. The firm had revenue of $133.80 million during the quarter, compared to analyst estimates of $133.80 million. During the same period in the prior year, the business earned ($0.36) EPS. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. Sell-side analysts expect that NovoCure will post -1.73 earnings per share for the current fiscal year.

Insider Buying and Selling at NovoCure

In other NovoCure news, EVP Frank X. Leonard sold 1,679 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.03, for a total value of $26,914.37. Following the transaction, the executive vice president now directly owns 160,938 shares in the company, valued at $2,579,836.14. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Frank X. Leonard sold 1,679 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.03, for a total transaction of $26,914.37. Following the completion of the sale, the executive vice president now owns 160,938 shares in the company, valued at $2,579,836.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Frank X. Leonard sold 2,078 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total value of $33,538.92. Following the transaction, the executive vice president now owns 162,617 shares in the company, valued at approximately $2,624,638.38. The disclosure for this sale can be found here. Insiders sold 7,921 shares of company stock valued at $127,161 in the last quarter. 5.67% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NovoCure

Several institutional investors and hedge funds have recently modified their holdings of NVCR. Cambridge Investment Research Advisors Inc. boosted its holdings in NovoCure by 3.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,222 shares of the medical equipment provider’s stock valued at $314,000 after purchasing an additional 165 shares during the period. Baird Financial Group Inc. grew its stake in NovoCure by 1.5% during the fourth quarter. Baird Financial Group Inc. now owns 16,061 shares of the medical equipment provider’s stock worth $1,179,000 after buying an additional 230 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of NovoCure by 1.3% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 23,400 shares of the medical equipment provider’s stock valued at $1,716,000 after buying an additional 300 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of NovoCure by 0.8% during the 4th quarter. Alliancebernstein L.P. now owns 44,523 shares of the medical equipment provider’s stock worth $3,266,000 after acquiring an additional 355 shares during the period. Finally, Captrust Financial Advisors boosted its position in shares of NovoCure by 47.0% during the 2nd quarter. Captrust Financial Advisors now owns 1,292 shares of the medical equipment provider’s stock worth $90,000 after acquiring an additional 413 shares in the last quarter. 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.