Novocure (NASDAQ:NVCR)‘s stock had its “buy” rating restated by equities research analysts at JPMorgan Chase & Co. in a research note issued to investors on Sunday.
NVCR has been the topic of a number of other research reports. Mizuho restated a “buy” rating and issued a $32.00 target price on shares of Novocure in a research note on Wednesday, June 13th. BidaskClub downgraded Novocure from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Evercore ISI initiated coverage on Novocure in a research note on Monday, July 16th. They issued an “outperform” rating and a $46.00 target price on the stock. Wedbush upped their price target on Novocure from $33.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, July 27th. Finally, Deutsche Bank downgraded Novocure from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Novocure has an average rating of “Buy” and a consensus target price of $40.29.
NASDAQ NVCR traded down $0.60 on Friday, reaching $48.30. The stock had a trading volume of 509,380 shares, compared to its average volume of 797,735. The company has a debt-to-equity ratio of 1.33, a current ratio of 6.41 and a quick ratio of 5.97. Novocure has a 1 year low of $16.10 and a 1 year high of $49.45. The company has a market capitalization of $4.38 billion, a P/E ratio of -69.00 and a beta of 3.34.
Novocure (NASDAQ:NVCR) last issued its earnings results on Thursday, July 26th. The medical equipment provider reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Novocure had a negative net margin of 26.99% and a negative return on equity of 52.34%. The firm had revenue of $61.50 million during the quarter, compared to analysts’ expectations of $59.53 million. The business’s quarterly revenue was up 60.2% compared to the same quarter last year. equities analysts anticipate that Novocure will post -0.69 EPS for the current year.
In other news, insider Yoram Palti sold 25,666 shares of the company’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $40.03, for a total transaction of $1,027,409.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Asaf Danziger sold 8,308 shares of the company’s stock in a transaction dated Wednesday, June 20th. The stock was sold at an average price of $32.04, for a total value of $266,188.32. Following the sale, the chief executive officer now owns 147,990 shares of the company’s stock, valued at approximately $4,741,599.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 356,869 shares of company stock valued at $12,588,047. 15.30% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Stratos Wealth Partners LTD. bought a new stake in Novocure during the 1st quarter valued at approximately $109,000. Envestnet Asset Management Inc. bought a new stake in Novocure during the 2nd quarter valued at approximately $135,000. CWM LLC bought a new stake in Novocure during the 2nd quarter valued at approximately $163,000. NumerixS Investment Technologies Inc boosted its stake in Novocure by 270.6% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 6,300 shares of the medical equipment provider’s stock valued at $196,000 after purchasing an additional 4,600 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in Novocure during the 2nd quarter valued at approximately $202,000. Hedge funds and other institutional investors own 56.09% of the company’s stock.
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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