HC Wainwright Lowers NovoCure (NASDAQ:NVCR) Price Target to $39.00

NovoCure (NASDAQ:NVCR) had its price target reduced by investment analysts at HC Wainwright from $42.00 to $39.00 in a research report issued on Tuesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. HC Wainwright’s price target points to a potential upside of 183.22% from the company’s current price. HC Wainwright also issued estimates for NovoCure’s FY2030 earnings at $3.28 EPS.

A number of other research analysts have also recently commented on NVCR. Wedbush reaffirmed a “neutral” rating and set a $18.00 target price on shares of NovoCure in a research note on Tuesday, September 30th. JPMorgan Chase & Co. lowered their target price on shares of NovoCure from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Monday, October 27th. Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a report on Wednesday, October 8th. Finally, Evercore ISI set a $20.00 price objective on shares of NovoCure in a report on Monday, January 5th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.50.

NovoCure Trading Up 0.9%

NVCR stock opened at $13.77 on Tuesday. NovoCure has a twelve month low of $10.70 and a twelve month high of $27.70. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -8.55 and a beta of 0.73. The company has a quick ratio of 1.50, a current ratio of 1.55 and a debt-to-equity ratio of 0.57. The firm’s fifty day simple moving average is $12.66 and its two-hundred day simple moving average is $13.22.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, October 30th. The medical equipment provider reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. NovoCure had a negative net margin of 27.66% and a negative return on equity of 50.29%. The firm had revenue of $167.20 million during the quarter, compared to analysts’ expectations of $158.81 million. During the same period in the previous year, the company earned ($0.28) EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts anticipate that NovoCure will post -1.3 earnings per share for the current year.

Hedge Funds Weigh In On NovoCure

Large investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of NovoCure by 17.1% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,307 shares of the medical equipment provider’s stock valued at $77,000 after buying an additional 629 shares in the last quarter. Arizona State Retirement System boosted its stake in NovoCure by 3.0% in the third quarter. Arizona State Retirement System now owns 31,313 shares of the medical equipment provider’s stock valued at $405,000 after acquiring an additional 916 shares in the last quarter. Alliancebernstein L.P. grew its holdings in NovoCure by 0.8% in the third quarter. Alliancebernstein L.P. now owns 137,106 shares of the medical equipment provider’s stock worth $1,771,000 after purchasing an additional 1,076 shares during the last quarter. KLP Kapitalforvaltning AS increased its position in shares of NovoCure by 6.5% during the second quarter. KLP Kapitalforvaltning AS now owns 23,000 shares of the medical equipment provider’s stock worth $409,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of NovoCure by 1.2% during the second quarter. Rhumbline Advisers now owns 152,749 shares of the medical equipment provider’s stock worth $2,719,000 after purchasing an additional 1,797 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

About NovoCure

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.