NovoCure (NASDAQ:NVCR) Upgraded by Evercore ISI to “Outperform” Rating

NovoCure (NASDAQ:NVCR) was upgraded by investment analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage currently has a $30.00 target price on the medical equipment provider’s stock, up from their prior target price of $18.00. Evercore ISI’s price target would indicate a potential upside of 49.70% from the stock’s current price.

Separately, HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of NovoCure in a report on Thursday, November 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.17.

NovoCure Trading Up 1.8 %

NVCR stock opened at $20.04 on Monday. 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 stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of -14.31 and a beta of 0.71. The business has a fifty day moving average price of $16.65 and a 200 day moving average price of $18.39. NovoCure has a fifty-two week low of $11.66 and a fifty-two week high of $24.74.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. The business had revenue of $155.10 million during the quarter, compared to analysts’ expectations of $143.95 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.46) earnings per share. Analysts expect that NovoCure will post -1.31 EPS for the current fiscal year.

Institutional Investors Weigh In On NovoCure

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