Other equities analysts have also recently issued reports about the company. ValuEngine raised Novocure from a hold rating to a buy rating in a report on Friday, May 24th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Novocure in a report on Sunday, May 26th. Zacks Investment Research raised Novocure from a sell rating to a hold rating in a report on Wednesday, February 20th. Mizuho reaffirmed a buy rating and set a $63.00 price objective on shares of Novocure in a report on Thursday, March 7th. Finally, SunTrust Banks began coverage on Novocure in a report on Tuesday, March 19th. They set a hold rating and a $50.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $49.63.
NVCR opened at $59.96 on Thursday. 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 has a 12 month low of $26.02 and a 12 month high of $62.15.
Novocure (NASDAQ:NVCR) last posted its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.13) EPS for the quarter, meeting the consensus estimate of ($0.13). The business had revenue of $73.31 million during the quarter, compared to analysts’ expectations of $72.85 million. Novocure had a negative return on equity of 47.23% and a negative net margin of 20.42%. The company’s quarterly revenue was up 40.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.23) EPS. As a group, analysts predict that Novocure will post -0.17 EPS for the current fiscal year.
In other Novocure news, CEO Asaf Danziger sold 30,436 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $55.39, for a total transaction of $1,685,850.04. Following the completion of the transaction, the chief executive officer now owns 275,146 shares of the company’s stock, valued at $15,240,336.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael J. Ambrogi sold 34,375 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $47.39, for a total value of $1,629,031.25. Following the transaction, the chief operating officer now directly owns 207,549 shares of the company’s stock, valued at approximately $9,835,747.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 682,170 shares of company stock valued at $37,431,423. 5.60% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Cerebellum GP LLC acquired a new position in shares of Novocure in the first quarter worth about $300,000. Trexquant Investment LP lifted its stake in shares of Novocure by 355.1% in the first quarter. Trexquant Investment LP now owns 32,438 shares of the medical equipment provider’s stock worth $1,563,000 after acquiring an additional 25,310 shares in the last quarter. Granite Investment Partners LLC lifted its stake in shares of Novocure by 19.1% in the first quarter. Granite Investment Partners LLC now owns 396,158 shares of the medical equipment provider’s stock worth $19,083,000 after acquiring an additional 63,491 shares in the last quarter. Delek Group Ltd. acquired a new position in shares of Novocure in the first quarter worth about $1,614,000. Finally, Jennison Associates LLC acquired a new position in shares of Novocure in the first quarter worth about $679,000. 65.34% of the stock is owned by institutional investors.
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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