NovoCure (NASDAQ:NVCR) PT Lowered to $18.00

NovoCure (NASDAQ:NVCR) had its price target lowered by stock analysts at Evercore ISI from $21.00 to $18.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the medical equipment provider’s stock. Evercore ISI’s price target suggests a potential upside of 16.13% from the stock’s current price.

A number of other equities research analysts have also recently commented on NVCR. Wedbush restated an “outperform” rating and set a $24.00 target price on shares of NovoCure in a research report on Thursday, July 25th. Wells Fargo & Company dropped their target price on NovoCure from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, July 26th. Finally, HC Wainwright raised their target price on NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $25.17.

NovoCure Stock Performance

NASDAQ NVCR opened at $15.50 on Tuesday. NovoCure has a fifty-two week low of $10.87 and a fifty-two week high of $24.74. The company has a debt-to-equity ratio of 1.81, a quick ratio of 6.22 and a current ratio of 6.46. The firm has a market capitalization of $1.67 billion, a P/E ratio of -8.56 and a beta of 0.71. The stock has a 50-day simple moving average of $18.15 and a two-hundred day simple moving average of $17.61.

NovoCure (NASDAQ:NVCR) last posted its earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.09. NovoCure had a negative return on equity of 45.68% and a negative net margin of 30.67%. The firm had revenue of $150.40 million for the quarter, compared to analysts’ expectations of $135.83 million. During the same period last year, the firm earned ($0.54) EPS. The company’s quarterly revenue was up 19.3% on a year-over-year basis. On average, equities analysts forecast that NovoCure will post -1.34 earnings per share for the current year.

Institutional Investors Weigh In On NovoCure

Institutional investors have recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new position in shares of NovoCure during the 2nd quarter worth approximately $28,000. Signaturefd LLC boosted its holdings 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 worth $28,000 after purchasing an additional 627 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of NovoCure during the 2nd quarter worth approximately $34,000. Fifth Third Bancorp acquired a new position in shares of NovoCure during the 2nd quarter worth approximately $43,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of NovoCure during the 2nd quarter worth approximately $48,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

About NovoCure

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.