NovoCure (NASDAQ:NVCR) Research Coverage Started at HC Wainwright

HC Wainwright started coverage on shares of NovoCure (NASDAQ:NVCR – Get Rating) in a research report sent to investors on Monday morning, The Fly reports. The brokerage issued a buy rating and a $115.00 price objective on the medical equipment provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler cut their price target on shares of NovoCure from $125.00 to $100.00 in a report on Friday, May 13th. Truist Financial upgraded shares of NovoCure from a hold rating to a buy rating and set a $125.00 price target on the stock in a report on Thursday, January 20th. Loop Capital started coverage on shares of NovoCure in a report on Tuesday, February 8th. They set a buy rating and a $200.00 price target on the stock. Oppenheimer upgraded shares of NovoCure from a market perform rating to an outperform rating and set a $98.00 price target on the stock in a report on Wednesday, February 2nd. Finally, StockNews.com upgraded shares of NovoCure from a sell rating to a hold rating in a report on Monday, May 2nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Buy and an average target price of $144.75.

Shares of NASDAQ NVCR opened at $74.05 on Monday. NovoCure has a fifty-two week low of $56.51 and a fifty-two week high of $232.76. The company has a 50 day simple moving average of $78.13 and a two-hundred day simple moving average of $80.96. The company has a market capitalization of $7.74 billion, a price-to-earnings ratio of -132.23 and a beta of 0.88. The company has a debt-to-equity ratio of 1.29, a quick ratio of 8.23 and a current ratio of 8.46.

NovoCure (NASDAQ:NVCR – Get Rating) last announced its earnings results on Thursday, April 28th. The medical equipment provider reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.15. NovoCure had a negative net margin of 10.94% and a negative return on equity of 14.21%. The business had revenue of $137.50 million during the quarter, compared to the consensus estimate of $134.29 million. During the same quarter last year, the firm earned ($0.04) earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts forecast that NovoCure will post -0.51 earnings per share for the current fiscal year.

In other news, CFO Ashley Cordova sold 759 shares of NovoCure stock in a transaction on Tuesday, March 8th. The shares were sold at an average price of $70.10, for a total transaction of $53,205.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Todd Christopher Longsworth sold 1,094 shares of the firm’s stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $74.50, for a total transaction of $81,503.00. The disclosure for this sale can be found here. Insiders have sold a total of 21,843 shares of company stock worth $1,551,967 in the last quarter. Corporate insiders own 5.07% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in NovoCure in the 4th quarter valued at $65,187,000. Capital International Investors increased its holdings in NovoCure by 7.3% in the 4th quarter. Capital International Investors now owns 11,332,005 shares of the medical equipment provider’s stock valued at $850,846,000 after acquiring an additional 775,189 shares during the last quarter. Capital World Investors increased its holdings in NovoCure by 6.5% in the 3rd quarter. Capital World Investors now owns 12,620,500 shares of the medical equipment provider’s stock valued at $1,466,123,000 after acquiring an additional 774,799 shares during the last quarter. Deep Track Capital LP bought a new stake in NovoCure in the 4th quarter valued at $41,294,000. Finally, Banque Pictet & Cie SA bought a new stake in NovoCure in the 4th quarter valued at $22,522,000. Hedge funds and other institutional investors own 78.40% of the company’s stock.

NovoCure Company Profile (Get Rating)

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of Optune for the treatment of a variety of solid tumors. The company markets Optune and Optune Lua, a Tumor Treating Fields (TTFields) devices for use as a monotherapy treatment for adult patients with glioblastoma.

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