Wedbush reaffirmed their outperform rating on shares of Novocure (NASDAQ:NVCR) in a research report sent to investors on Friday morning, RTT News reports. Wedbush currently has a $57.00 price objective on the medical equipment provider’s stock.
Other equities analysts have also issued research reports about the company. ValuEngine lowered Novocure from a buy rating to a hold rating in a research note on Thursday, May 9th. BidaskClub upgraded Novocure from a hold rating to a buy rating in a research note on Wednesday, May 15th. Zacks Investment Research upgraded Novocure from a sell rating to a hold rating in a research note on Wednesday, February 20th. Mizuho reaffirmed a buy rating and set a $63.00 price objective on shares of Novocure in a research report on Thursday, March 7th. Finally, SunTrust Banks assumed coverage on Novocure in a research report on Tuesday, March 19th. They set a hold rating and a $50.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $49.63.
Shares of Novocure stock opened at $52.91 on Friday. The firm has a market cap of $5.07 billion, a PE ratio of -76.68 and a beta of 3.04. 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 $56.67.
Novocure (NASDAQ:NVCR) last announced 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 firm had revenue of $73.31 million for the quarter, compared to analyst estimates of $72.85 million. Novocure had a negative return on equity of 47.23% and a negative net margin of 20.42%. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.23) earnings per share. Sell-side analysts predict that Novocure will post -0.17 earnings per share for the current year.
In related news, insider Pritesh Shah sold 1,558 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $53.68, for a total transaction of $83,633.44. Following the sale, the insider now owns 26,797 shares of the company’s stock, valued at $1,438,462.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Asaf Danziger sold 903 shares of the firm’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $54.40, for a total value of $49,123.20. Following the sale, the chief executive officer now directly owns 233,757 shares in the company, valued at approximately $12,716,380.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 318,778 shares of company stock worth $16,084,435. 5.60% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. PRW Wealth Management LLC bought a new stake in Novocure during the fourth quarter valued at about $36,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Novocure by 35.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,331 shares of the medical equipment provider’s stock worth $64,000 after acquiring an additional 349 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Novocure by 66.0% in the first quarter. Fifth Third Bancorp now owns 1,454 shares of the medical equipment provider’s stock worth $70,000 after acquiring an additional 578 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new stake in Novocure in the fourth quarter worth about $59,000. Finally, QS Investors LLC purchased a new position in shares of Novocure in the fourth quarter worth about $70,000. 61.76% of the stock is currently owned by institutional investors.
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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