Novocure (NASDAQ:NVCR)‘s stock had its “buy” rating reiterated by research analysts at JPMorgan Chase & Co. in a research note issued to investors on Sunday.
NVCR has been the topic of several other reports. Mizuho reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Novocure in a research report on Wednesday, June 13th. BidaskClub cut shares of Novocure from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Evercore ISI began coverage on shares of Novocure in a research report on Monday, July 16th. They issued an “outperform” rating and a $46.00 price objective on the stock. Wedbush boosted their price objective on shares of Novocure from $33.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, July 27th. Finally, Deutsche Bank cut shares of Novocure from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $40.29.
NVCR traded down $0.60 during trading on Friday, hitting $48.30. The company had a trading volume of 509,380 shares, compared to its average volume of 797,735. The stock has a market capitalization of $4.38 billion, a P/E ratio of -69.00 and a beta of 3.34. Novocure has a one year low of $16.10 and a one year high of $49.45. The company has a current ratio of 6.41, a quick ratio of 5.97 and a debt-to-equity ratio of 1.33.
Novocure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, July 26th. The medical equipment provider reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The company had revenue of $61.50 million during the quarter, compared to the consensus estimate of $59.53 million. Novocure had a negative net margin of 26.99% and a negative return on equity of 52.34%. The firm’s quarterly revenue was up 60.2% on a year-over-year basis. equities research analysts predict that Novocure will post -0.69 EPS for the current fiscal year.
In other Novocure news, COO Michael J. Ambrogi sold 57,390 shares of the business’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $31.48, for a total transaction of $1,806,637.20. Following the sale, the chief operating officer now directly owns 174,383 shares of the company’s stock, valued at approximately $5,489,576.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Asaf Danziger sold 8,308 shares of the business’s stock in a transaction dated Wednesday, June 20th. The stock was sold at an average price of $32.04, for a total transaction of $266,188.32. Following the sale, the chief executive officer now directly owns 147,990 shares in the company, valued at $4,741,599.60. The disclosure for this sale can be found here. Insiders have sold a total of 356,869 shares of company stock worth $12,588,047 over the last three months. Insiders own 15.30% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. acquired a new position in shares of Novocure during the 2nd quarter worth about $135,000. Stratos Wealth Partners LTD. acquired a new position in shares of Novocure during the 1st quarter worth about $109,000. CWM LLC acquired a new position in shares of Novocure during the 2nd quarter worth about $163,000. NumerixS Investment Technologies Inc increased its stake in shares of Novocure by 270.6% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 6,300 shares of the medical equipment provider’s stock worth $196,000 after purchasing an additional 4,600 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of Novocure during the 2nd quarter worth about $202,000. 56.09% of the stock is currently owned by hedge funds and other institutional investors.
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.
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