Research Analysts’ Recent Ratings Updates for NovoCure (NVCR)

A number of research firms have changed their ratings and price targets for NovoCure (NASDAQ: NVCR):

• 12/13/2024 – NovoCure had its price target raised by analysts at Piper Sandler from $28.00 to $42.00. They now have an “overweight” rating on the stock.
• 12/2/2024 – NovoCure was upgraded by analysts at Evercore ISI from an “in-line” rating to an “outperform” rating. They now have a $30.00 price target on the stock, up previously from $18.00.
• 12/2/2024 – NovoCure had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $29.00 price target on the stock, up previously from $24.00.
• 12/2/2024 – NovoCure had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $38.00 price target on the stock, up previously from $30.00.
• 11/21/2024 – NovoCure had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $30.00 price target on the stock.
• 10/31/2024 – NovoCure had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $30.00 price target on the stock.

NovoCure Trading Down 5.0 %

Shares of NovoCure stock opened at $31.75 on Tuesday. The company has a 50-day moving average of $19.82 and a two-hundred day moving average of $18.95. NovoCure Limited has a 12-month low of $11.70 and a 12-month high of $34.00. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27. The stock has a market cap of $3.44 billion, a PE ratio of -22.68 and a beta of 0.75.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. The company had revenue of $155.10 million during the quarter, compared to analysts’ expectations of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.46) earnings per share. On average, research analysts anticipate that NovoCure Limited will post -1.32 EPS for the current fiscal year.

Institutional Investors Weigh In On NovoCure

Several hedge funds have recently modified their holdings of the stock. CWM LLC lifted its stake in shares of NovoCure by 182.3% during the second quarter. CWM LLC now owns 5,281 shares of the medical equipment provider’s stock worth $90,000 after purchasing an additional 3,410 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in NovoCure in the second quarter valued at about $48,000. Fifth Third Bancorp purchased a new position in shares of NovoCure during the 2nd quarter valued at approximately $43,000. Bank of New York Mellon Corp grew its position in shares of NovoCure by 56.8% during the second quarter. Bank of New York Mellon Corp now owns 419,960 shares of the medical equipment provider’s stock worth $7,194,000 after buying an additional 152,185 shares in the last quarter. Finally, Legato Capital Management LLC acquired a new stake in shares of NovoCure during the second quarter worth approximately $952,000. 84.61% of the stock is owned by institutional investors and hedge funds.

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.