NovoCure Rating Increased to Hold at StockNews.com

NovoCure (NASDAQ: NVCR) received a rating upgrade from equities researchers at StockNews.com, moving from a "sell" rating to a "hold" rating in a report released on Tuesday.

Several other analysts have also shared their insights regarding NovoCure. Piper Sandler raised the price target for NovoCure shares from $28.00 to $42.00, giving the stock an "overweight" rating in their research report dated December 13. HC Wainwright maintained a "buy" rating with a target price of $38.00 on January 14. Evercore ISI upgraded NovoCure from an "in-line" rating to an "outperform" level, increasing their price target from $18.00 to $30.00 as of December 2. Additionally, Wedbush reaffirmed a "neutral" rating with a target price of $29.00 on January 13. In total, three analysts have rated NovoCure with a hold rating, while four have assigned a buy rating. According to information from MarketBeat, NovoCure currently holds a consensus rating of "Moderate Buy" with a target price expectation of $32.67.

NovoCure Price Performance

In midday trading on Tuesday, shares of NovoCure fell by $0.23, bringing the stock price to $19.36. The trading volume reached 915,320 shares, which is lower than the average volume of approximately 1,250,002 shares. Over the past year, NovoCure has experienced a low of $11.70 and a high of $34.13. The company's market capitalization stands at $2.13 billion, with a negative price-to-earnings (P/E) ratio of -13.83 and a beta value of 0.63. The 50-day moving average price for NovoCure is $23.02, while the 200-day moving average is $21.58. Furthermore, the company's debt-to-equity ratio is 0.27, with a quick ratio of 1.44 and a current ratio of 1.49.

NovoCure's latest quarterly earnings were released on February 27, where the medical equipment provider reported an earnings per share (EPS) of ($0.61). This figure fell short of analysts' expectations, which were around ($0.34) by a margin of $0.27. The company recorded a negative return on equity of 41.48% and a net margin of 25.93%. Revenue for the quarter was listed at $161.27 million, marginally below the consensus estimate of $161.30 million. On average, analysts expect NovoCure to report earnings of -$1.30 per share for the current year.

Institutional Investors Shift Positions in NovoCure

Recent changes in positions by large investors have impacted NovoCure. For instance, GeoWealth Management LLC purchased new shares valued at approximately $27,000 during the fourth quarter. Meanwhile, Lindbrook Capital LLC increased its stake in NovoCure by 189.2%, owning 1,854 shares valued at $55,000 after acquiring an additional 1,213 shares during the quarter. Blue Trust Inc. also increased its ownership by 70.7%, holding 1,886 shares now valued at $56,000 after buying an additional 781 shares. GF Fund Management CO. LTD. acquired a new position in NovoCure worth about $68,000, and SBI Securities Co. Ltd. made a new investment valued at $70,000. Overall, institutional investors and hedge funds hold 84.61% of NovoCure's stock.

About NovoCure

NovoCure Limited is an oncology-focused company engaged in the development, manufacturing, and commercialization of tumor treating fields (TTFields) devices, primarily intended for treating solid tumor cancers. Their market presence extends to the United States, Germany, Japan, Greater China, and beyond. Among their products are the TTFields devices called Optune Gio and Optune Lua.

NovoCure, stocks, investors