Novocure (NASDAQ:NVCR) received a $76.00 target price from equities researchers at Oppenheimer in a report issued on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the medical equipment provider’s stock. Oppenheimer’s price objective points to a potential upside of 9.35% from the stock’s current price.
A number of other analysts also recently issued reports on the company. BidaskClub raised Westport Fuel Systems from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novocure in a report on Sunday, May 26th. ValuEngine upgraded XOMA from a “sell” rating to a “hold” rating in a report on Friday, May 24th. Finally, Wedbush set a $79.00 target price on Aimmune Therapeutics and gave the stock a “buy” rating in a report on Friday, May 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $53.38.
NVCR traded down $0.98 during trading on Friday, reaching $69.50. The stock had a trading volume of 608,134 shares, compared to its average volume of 675,174. The firm’s 50 day simple moving average is $61.66. The company has a quick ratio of 4.39, a current ratio of 4.73 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $6.75 billion, a P/E ratio of -100.72 and a beta of 2.45. Novocure has a one year low of $26.02 and a one year high of $72.59.
Novocure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported ($0.13) EPS for the quarter, meeting the consensus estimate of ($0.13). The company had revenue of $73.31 million for 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%. Novocure’s revenue was up 40.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.23) earnings per share. Research analysts predict that Novocure will post -0.17 EPS for the current year.
In related news, Director Gabriel Leung sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $64.83, for a total transaction of $324,150.00. Following the completion of the transaction, the director now owns 74,504 shares in the company, valued at approximately $4,830,094.32. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Pritesh Shah sold 1,204 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $43.80, for a total value of $52,735.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 853,970 shares of company stock valued at $48,748,770. 5.60% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of NVCR. Raymond James Financial Services Advisors Inc. raised its position in Novocure by 2.5% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 20,991 shares of the medical equipment provider’s stock valued at $703,000 after purchasing an additional 513 shares in the last quarter. Rice Hall James & Associates LLC raised its position in Novocure by 4.1% during the 1st quarter. Rice Hall James & Associates LLC now owns 15,215 shares of the medical equipment provider’s stock valued at $733,000 after purchasing an additional 600 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in Novocure by 2.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 35,980 shares of the medical equipment provider’s stock valued at $1,733,000 after purchasing an additional 1,020 shares in the last quarter. Steinberg Global Asset Management raised its position in Novocure by 1.0% during the 1st quarter. Steinberg Global Asset Management now owns 136,765 shares of the medical equipment provider’s stock valued at $6,588,000 after purchasing an additional 1,371 shares in the last quarter. Finally, Raymond James & Associates raised its position in Novocure by 31.7% during the 4th quarter. Raymond James & Associates now owns 7,113 shares of the medical equipment provider’s stock valued at $238,000 after purchasing an additional 1,714 shares in the last quarter. Institutional investors own 65.35% of the company’s stock.
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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