NovoCure (NASDAQ:NVCR) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of NovoCure (NASDAQ:NVCR) in a research report released on Thursday morning,Benzinga reports. HC Wainwright currently has a $30.00 price objective on the medical equipment provider’s stock.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company lowered their target price on NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Evercore ISI dropped their target price on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st. Finally, Wedbush reiterated an “outperform” rating and issued a $24.00 price target on shares of NovoCure in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, NovoCure currently has an average rating of “Moderate Buy” and an average price target of $26.17.

NovoCure Price Performance

Shares of NovoCure stock opened at $17.73 on Thursday. The business has a 50 day moving average of $16.50 and a 200 day moving average of $18.35. NovoCure has a 52 week low of $11.29 and a 52 week high of $24.74. The company has a market cap of $1.92 billion, a PE ratio of -12.66 and a beta of 0.71. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.06. The business had revenue of $155.10 million during the quarter, compared to analyst estimates of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.46) EPS. As a group, equities research analysts forecast that NovoCure will post -1.31 earnings per share for the current year.

Institutional Investors Weigh In On NovoCure

Several institutional investors have recently modified their holdings of NVCR. Lombard Odier Asset Management USA Corp lifted its position in NovoCure by 5.4% during the second quarter. Lombard Odier Asset Management USA Corp now owns 10,862 shares of the medical equipment provider’s stock valued at $186,000 after purchasing an additional 557 shares during the period. Arizona State Retirement System raised its stake in shares of NovoCure by 2.1% in the second quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider’s stock worth $488,000 after buying an additional 581 shares during the period. Signaturefd LLC lifted its position in shares of NovoCure by 61.7% during the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 627 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of NovoCure by 21.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock valued at $61,000 after buying an additional 701 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of NovoCure by 58.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock valued at $57,000 after acquiring an additional 1,354 shares during the period. 84.61% of the stock is owned by hedge funds and other institutional investors.

NovoCure Company Profile

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company’s TTFields devices include Optune Gio and Optune Lua.