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

NovoCure (NASDAQ:NVCR)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They currently have a $38.00 target price on the medical equipment provider’s stock. HC Wainwright’s price target would suggest a potential upside of 44.21% from the stock’s current price.

Other research analysts have also issued research reports about the company. Wedbush reaffirmed a “neutral” rating and set a $29.00 price objective on shares of NovoCure in a research report on Monday. Piper Sandler raised their price target on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $18.00 to $30.00 in a research note on Monday, December 2nd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, NovoCure has an average rating of “Moderate Buy” and an average target price of $32.67.

NovoCure Stock Up 0.5 %

NASDAQ:NVCR opened at $26.35 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The firm’s 50-day moving average price is $25.52 and its 200-day moving average price is $20.35. The company has a market capitalization of $2.85 billion, a PE ratio of -18.82 and a beta of 0.64. NovoCure has a 1-year low of $11.70 and a 1-year high of $34.13.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The business had revenue of $155.10 million for the quarter, compared to analysts’ expectations of $143.95 million. During the same quarter in the prior year, the company earned ($0.46) earnings per share. The business’s revenue was up 21.8% compared to the same quarter last year. On average, equities analysts predict that NovoCure will post -1.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. FMR LLC increased its holdings in NovoCure by 0.6% in the 3rd quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider’s stock worth $253,706,000 after buying an additional 90,422 shares in the last quarter. Nordwand Advisors LLC boosted its holdings in shares of NovoCure by 100.0% during the 3rd quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider’s stock valued at $47,356,000 after acquiring an additional 1,514,824 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of NovoCure by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock worth $37,601,000 after acquiring an additional 29,871 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of NovoCure by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 907,999 shares of the medical equipment provider’s stock valued at $14,192,000 after purchasing an additional 84,606 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in NovoCure by 2.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 824,443 shares of the medical equipment provider’s stock valued at $12,886,000 after purchasing an additional 16,339 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.