NovoCure (NASDAQ:NVCR) Earns “Buy” Rating from HC Wainwright

NovoCure (NASDAQ:NVCR)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $38.00 price target on the medical equipment provider’s stock, up from their prior price target of $30.00. HC Wainwright’s price target indicates a potential upside of 24.55% from the company’s current price.

Separately, Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $18.00 to $30.00 in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.33.

NovoCure Price Performance

NovoCure stock opened at $30.51 on Monday. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. NovoCure has a 12-month low of $11.66 and a 12-month high of $32.60. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -21.79 and a beta of 0.75. The business’s 50-day simple moving average is $17.19 and its 200 day simple moving average is $18.51.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.06. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The business had revenue of $155.10 million for the quarter, compared to analysts’ expectations of $143.95 million. During the same quarter in the previous year, the business posted ($0.46) EPS. NovoCure’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, research analysts anticipate that NovoCure will post -1.31 earnings per share for the current year.

Institutional Trading of NovoCure

A number of institutional investors have recently modified their holdings of NVCR. FMR LLC raised its holdings in shares of NovoCure by 0.6% during the 3rd quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider’s stock worth $253,706,000 after buying an additional 90,422 shares in the last quarter. Nordwand Advisors LLC boosted its position in shares of NovoCure by 100.0% during the 3rd quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider’s stock valued at $47,356,000 after purchasing an additional 1,514,824 shares in the last quarter. Geode Capital Management LLC boosted its holdings in NovoCure by 1.3% in the third quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock worth $37,601,000 after acquiring an additional 29,871 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in NovoCure by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 907,999 shares of the medical equipment provider’s stock worth $14,192,000 after acquiring an additional 84,606 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of NovoCure by 2.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 824,443 shares of the medical equipment provider’s stock valued at $12,886,000 after purchasing an additional 16,339 shares in the last quarter. 84.61% of the stock is currently owned by institutional investors.

About NovoCure

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company’s TTFields devices include Optune Gio and Optune Lua.