NovoCure’s (NVCR) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

NovoCure (NASDAQ:NVCR)‘s stock had its “neutral” rating reiterated by research analysts at JPMorgan Chase & Co. in a note issued to investors on Monday,Benzinga reports. They currently have a $17.00 price target on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 4.29% from the company’s previous close.

A number of other equities analysts have also weighed in on NVCR. Wedbush reiterated a “neutral” rating and set a $18.00 target price on shares of NovoCure in a research report on Thursday, April 16th. Weiss Ratings raised shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Evercore restated an “outperform” rating on shares of NovoCure in a research note on Friday, May 1st. HC Wainwright reiterated a “buy” rating and issued a $46.00 price objective (down from $48.00) on shares of NovoCure in a research note on Thursday, June 18th. Finally, Wells Fargo & Company boosted their target price on shares of NovoCure from $13.50 to $17.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, NovoCure currently has an average rating of “Hold” and a consensus price target of $23.60.

NovoCure Price Performance

Shares of NASDAQ NVCR opened at $16.30 on Monday. NovoCure has a one year low of $9.82 and a one year high of $18.92. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.90 and a quick ratio of 2.70. The business’s fifty day moving average price is $16.78 and its 200-day moving average price is $13.92. The stock has a market capitalization of $1.89 billion, a PE ratio of -10.65 and a beta of 0.94.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.11). NovoCure had a negative return on equity of 50.82% and a negative net margin of 25.66%.The firm had revenue of $174.06 million during the quarter, compared to analysts’ expectations of $167.77 million. During the same period last year, the business posted ($0.31) EPS. The company’s revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts anticipate that NovoCure will post -1.51 EPS for the current year.

Insider Activity at NovoCure

In other NovoCure news, Director Timothy J. Scannell sold 2,945 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total value of $46,442.65. Following the completion of the transaction, the director directly owned 14,288 shares of the company’s stock, valued at $225,321.76. This trade represents a 17.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeryl L. Hilleman sold 2,945 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the completion of the transaction, the director directly owned 13,861 shares in the company, valued at approximately $218,587.97. The trade was a 17.52% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 51,943 shares of company stock valued at $893,171 in the last quarter. 5.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NovoCure

Institutional investors have recently added to or reduced their stakes in the business. Algert Global LLC grew its holdings in shares of NovoCure by 372.2% during the third quarter. Algert Global LLC now owns 682,858 shares of the medical equipment provider’s stock worth $8,823,000 after purchasing an additional 538,235 shares in the last quarter. JPMorgan Chase & Co. lifted its position in NovoCure by 104.2% during the third quarter. JPMorgan Chase & Co. now owns 282,184 shares of the medical equipment provider’s stock valued at $3,646,000 after purchasing an additional 144,024 shares during the last quarter. Tudor Investment Corp ET AL grew its stake in NovoCure by 140.6% in the 3rd quarter. Tudor Investment Corp ET AL now owns 606,070 shares of the medical equipment provider’s stock worth $7,830,000 after buying an additional 354,216 shares in the last quarter. SG Americas Securities LLC grew its stake in NovoCure by 905.6% in the 4th quarter. SG Americas Securities LLC now owns 278,806 shares of the medical equipment provider’s stock worth $3,605,000 after buying an additional 251,082 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of NovoCure by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 10,958,209 shares of the medical equipment provider’s stock worth $141,690,000 after buying an additional 502,368 shares during the last quarter. 84.61% of the stock is currently owned by institutional investors.

About NovoCure

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.