NovoCure's (NVCR) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of NovoCure (NASDAQ:NVCR - Free Report) in a research note released on Thursday morning, Benzinga reports. The firm currently has a $30.00 target price on the medical equipment provider's stock.

A number of other equities research analysts have also recently commented on NVCR. Wells Fargo & Company cut their price target on shares of NovoCure from $42.00 to $40.00 and set an "overweight" rating on the stock in a report on Friday, July 26th. Evercore ISI dropped their target price on shares of NovoCure from $21.00 to $18.00 and set an "in-line" rating on the stock in a report on Tuesday, October 1st. Finally, Wedbush restated an "outperform" rating and issued a $24.00 target price on shares of NovoCure in a report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $26.17.

NovoCure Stock Down 10.7 %

Shares of NASDAQ:NVCR traded down $1.81 during trading on Thursday, reaching $15.18. 1,231,613 shares of the stock traded hands, compared to its average volume of 1,313,314. The stock has a 50-day moving average of $16.79 and a two-hundred day moving average of $17.85. NovoCure has a 52-week low of $10.87 and a 52-week high of $24.74. The company has a debt-to-equity ratio of 1.81, a quick ratio of 6.22 and a current ratio of 6.46. The stock has a market cap of $1.63 billion, a P/E ratio of -8.39 and a beta of 0.70.

NovoCure (NASDAQ:NVCR - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, beating analysts' consensus estimates of ($0.34) by $0.06. NovoCure had a negative net margin of 30.67% and a negative return on equity of 45.68%. The firm had revenue of $155.10 million for the quarter, compared to analysts' expectations of $143.95 million. During the same quarter in the prior year, the company posted ($0.46) earnings per share. The business's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, sell-side analysts expect that NovoCure will post -1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Lombard Odier Asset Management USA Corp boosted its stake in shares of NovoCure by 5.4% during the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 10,862 shares of the medical equipment provider's stock worth $186,000 after acquiring an additional 557 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of NovoCure by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider's stock worth $488,000 after acquiring an additional 581 shares during the last quarter. Signaturefd LLC raised its position in shares of NovoCure by 61.7% during the 2nd quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 627 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of NovoCure by 21.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider's stock valued at $61,000 after purchasing an additional 701 shares during the period. Finally, Ridgewood Investments LLC bought a new stake in shares of NovoCure during the 2nd quarter valued at $28,000. Hedge funds and other institutional investors own 84.61% of the company's stock.

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.