Wedbush Raises NovoCure (NASDAQ:NVCR) Price Target to $20.00

NovoCure (NASDAQ:NVCR) had its target price raised by stock analysts at Wedbush from $18.00 to $20.00 in a research report issued on Friday, Marketbeat.com reports. The brokerage presently has a “neutral” rating on the medical equipment provider’s stock. Wedbush’s target price would suggest a potential upside of 13.31% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. Zacks Research downgraded NovoCure from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Wells Fargo & Company upped their price objective on shares of NovoCure from $13.50 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. began coverage on shares of NovoCure in a report on Monday, July 13th. They set a “neutral” rating and a $17.00 target price on the stock. Weiss Ratings raised shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. Finally, Evercore reiterated an “outperform” rating on shares of NovoCure in a research report on Friday, May 1st. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $21.20.

NovoCure Trading Down 11.7%

NASDAQ NVCR opened at $17.65 on Friday. The stock’s 50-day simple moving average is $16.64 and its two-hundred day simple moving average is $14.14. NovoCure has a twelve month low of $9.82 and a twelve month high of $21.45. The company has a quick ratio of 2.70, a current ratio of 2.90 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -13.58 and a beta of 0.94.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, July 23rd. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.20. The firm had revenue of $183.58 million during the quarter, compared to analysts’ expectations of $172.44 million. NovoCure had a negative return on equity of 44.02% and a negative net margin of 21.25%.The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.36) EPS. Research analysts forecast that NovoCure will post -1.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other NovoCure news, CEO Frank X. Leonard sold 34,273 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $17.93, for a total transaction of $614,514.89. Following the sale, the chief executive officer directly owned 459,520 shares in the company, valued at approximately $8,239,193.60. This trade represents a 6.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director W Anthony Vernon sold 2,945 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total value of $46,442.65. Following the completion of the transaction, the director owned 197,657 shares of the company’s stock, valued at $3,117,050.89. This represents a 1.47% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 51,943 shares of company stock worth $893,171 in the last three months. Corporate insiders own 5.52% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NVCR. Handelsbanken Fonder AB lifted its position in NovoCure by 37.2% during the second quarter. Handelsbanken Fonder AB now owns 51,223 shares of the medical equipment provider’s stock valued at $776,000 after purchasing an additional 13,900 shares during the period. Amundi grew its position in NovoCure by 19.9% in the 1st quarter. Amundi now owns 47,583 shares of the medical equipment provider’s stock worth $519,000 after purchasing an additional 7,907 shares during the period. California State Teachers Retirement System grew its position in NovoCure by 43.6% in the 1st quarter. California State Teachers Retirement System now owns 142,561 shares of the medical equipment provider’s stock worth $1,554,000 after purchasing an additional 43,257 shares during the period. Eversept Partners LP raised its stake in NovoCure by 11.5% during the 1st quarter. Eversept Partners LP now owns 134,917 shares of the medical equipment provider’s stock valued at $1,471,000 after buying an additional 13,939 shares during the last quarter. Finally, Quantinno Capital Management LP raised its stake in NovoCure by 23.7% during the 1st quarter. Quantinno Capital Management LP now owns 2,487,376 shares of the medical equipment provider’s stock valued at $27,112,000 after buying an additional 477,128 shares during the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting NovoCure

Here are the key news stories impacting NovoCure this week:

• Positive Sentiment: NovoCure reported Q2 EPS of -$0.13, beating the consensus loss estimate of -$0.33, while revenue came in at $183.6 million versus expectations of $172.4 million. Revenue also rose 15.6% year over year, signaling improving business momentum.
• Positive Sentiment: The company raised its FY2026 revenue guidance to $710 million-$725 million, above the market’s prior expectation of about $704 million, which suggests management sees continued demand strength.
• Positive Sentiment: HC Wainwright increased its price target on NovoCure to $52 from $46 and maintained a Buy rating, reinforcing optimism around the company’s longer-term earnings potential. Article Title
• Neutral Sentiment: Wedbush also raised its price target to $20 from $18, but kept a Neutral rating, indicating improved expectations without a strong bullish call. Article Title
• Neutral Sentiment: Shares also got a lift from optimism around the company’s brain therapy pipeline and possible FDA-related catalysts, which helped push the stock to new highs as investors priced in further upside. Article Title
• Negative Sentiment: HC Wainwright trimmed its FY2029 EPS estimate slightly to $1.90 from $1.95, a small caution on the company’s very long-term earnings outlook.

NovoCure Company Profile

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.