A number of other analysts have also issued reports on the stock. Wedbush restated an “outperform” rating and set a $57.00 target price on shares of Novocure in a research report on Friday. BidaskClub raised shares of Novocure from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. SunTrust Banks assumed coverage on shares of Novocure in a research note on Tuesday, March 19th. They set a “hold” rating and a $50.00 price target on the stock. Zacks Investment Research downgraded shares of Novocure from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Finally, Mizuho reaffirmed a “buy” rating and set a $63.00 price target on shares of Novocure in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $49.63.
NASDAQ NVCR traded up $3.60 during mid-day trading on Friday, reaching $52.91. 724,500 shares of the stock were exchanged, compared to its average volume of 650,180. Novocure has a 1-year low of $26.02 and a 1-year high of $56.67. The firm has a market cap of $4.97 billion, a P/E ratio of -76.68 and a beta of 3.04. The company has a debt-to-equity ratio of 1.27, a quick ratio of 4.39 and a current ratio of 4.73.
Novocure (NASDAQ:NVCR) last announced its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.13). Novocure had a negative net margin of 20.42% and a negative return on equity of 47.23%. The firm had revenue of $73.31 million for the quarter, compared to analyst estimates of $72.85 million. During the same quarter last year, the business earned ($0.23) earnings per share. Novocure’s revenue was up 40.6% compared to the same quarter last year. As a group, equities analysts predict that Novocure will post -0.17 EPS for the current year.
In other news, insider Pritesh Shah sold 1,558 shares of the firm’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $53.68, for a total value of $83,633.44. Following the transaction, the insider now owns 26,797 shares of the company’s stock, valued at approximately $1,438,462.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gabriel Leung sold 5,000 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $49.79, for a total transaction of $248,950.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 318,778 shares of company stock worth $16,084,435. 5.60% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP purchased a new position in shares of Novocure in the 3rd quarter valued at $1,323,000. Rhenman & Partners Asset Management AB raised its stake in shares of Novocure by 36.3% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 545,000 shares of the medical equipment provider’s stock valued at $18,247,000 after acquiring an additional 145,000 shares during the period. Strategic Financial Services Inc purchased a new position in shares of Novocure in the 1st quarter valued at $207,000. Nisa Investment Advisors LLC raised its stake in shares of Novocure by 29.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the medical equipment provider’s stock valued at $74,000 after acquiring an additional 500 shares during the period. Finally, Legal & General Group Plc raised its stake in shares of Novocure by 1.1% in the 3rd quarter. Legal & General Group Plc now owns 28,027 shares of the medical equipment provider’s stock valued at $1,469,000 after acquiring an additional 301 shares during the period. 61.76% of the stock is currently owned by institutional investors and hedge funds.
Novocure Company Profile
Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.
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