Novocure (NVCR) Downgraded to “Hold” at BidaskClub

Novocure (NASDAQ:NVCR) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Other research analysts have also issued research reports about the company. Zacks Investment Research lowered Novocure from a “buy” rating to a “hold” rating in a report on Saturday, January 13th. ValuEngine upgraded Novocure from a “sell” rating to a “hold” rating in a report on Sunday, December 31st. Mizuho restated a “buy” rating and issued a $25.00 price objective on shares of Novocure in a report on Friday, December 1st. JPMorgan Chase & Co. restated a “buy” rating on shares of Novocure in a report on Monday, November 20th. Finally, Wedbush restated an “outperform” rating and issued a $25.00 price objective (down previously from $29.00) on shares of Novocure in a report on Friday, October 27th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $21.13.

Novocure (NASDAQ:NVCR) opened at $23.65 on Thursday. The company has a quick ratio of 5.30, a current ratio of 5.90 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $2,230.00 and a price-to-earnings ratio of -28.49. Novocure has a fifty-two week low of $6.00 and a fifty-two week high of $24.00.

Novocure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. The company had revenue of $50.10 million for the quarter, compared to analyst estimates of $43.45 million. Novocure had a negative return on equity of 57.68% and a negative net margin of 47.45%. The firm’s revenue for the quarter was up 130.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.39) EPS. equities research analysts forecast that Novocure will post -0.64 earnings per share for the current fiscal year.

In other Novocure news, CTO Yoram Palti sold 30,000 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $21.78, for a total value of $653,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michael J. Ambrogi sold 24,327 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $22.01, for a total value of $535,437.27. Following the completion of the sale, the chief operating officer now directly owns 49,514 shares of the company’s stock, valued at $1,089,803.14. The disclosure for this sale can be found here. Insiders sold a total of 683,769 shares of company stock valued at $14,779,515 over the last ninety days. Corporate insiders own 16.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of NVCR. FMR LLC increased its position in shares of Novocure by 50.4% during the 2nd quarter. FMR LLC now owns 6,888,120 shares of the medical equipment provider’s stock worth $119,165,000 after purchasing an additional 2,309,559 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Novocure by 6,617.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,988,007 shares of the medical equipment provider’s stock worth $86,293,000 after purchasing an additional 4,913,755 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Novocure by 40.5% during the 2nd quarter. Vanguard Group Inc. now owns 4,283,862 shares of the medical equipment provider’s stock worth $74,111,000 after purchasing an additional 1,235,922 shares during the last quarter. State Street Corp increased its position in shares of Novocure by 17.0% during the 2nd quarter. State Street Corp now owns 1,082,589 shares of the medical equipment provider’s stock worth $18,728,000 after purchasing an additional 157,642 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its position in shares of Novocure by 29.8% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,081,898 shares of the medical equipment provider’s stock worth $21,854,000 after purchasing an additional 248,322 shares during the last quarter. 41.54% of the stock is owned by institutional investors and hedge funds.

WARNING: “Novocure (NVCR) Downgraded to “Hold” at BidaskClub” was first reported by American Banking News and is the property of of American Banking News. If you are accessing this news story on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this news story can be read at https://www.americanbankingnews.com/2018/01/28/novocure-nvcr-downgraded-to-hold-at-bidaskclub.html.

Novocure Company Profile

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.

Analyst Recommendations for Novocure (NASDAQ:NVCR)

Receive News & Ratings for Novocure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novocure and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply