NovoCure (NASDAQ:NVCR) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of NovoCure (NASDAQ:NVCR - Free Report) from a hold rating to a sell rating in a report issued on Friday morning.

A number of other research analysts have also recently weighed in on NVCR. HC Wainwright restated a "buy" rating and issued a $38.00 price target on shares of NovoCure in a research report on Tuesday, January 14th. Wedbush dropped their target price on shares of NovoCure from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Piper Sandler reduced their price target on shares of NovoCure from $42.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of NovoCure from $29.00 to $28.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, NovoCure presently has an average rating of "Hold" and an average target price of $32.83.

NovoCure Price Performance

NVCR stock traded down $0.19 during trading on Friday, reaching $18.31. 1,193,175 shares of the company were exchanged, compared to its average volume of 1,185,771. NovoCure has a 52-week low of $12.17 and a 52-week high of $34.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The company has a market cap of $2.04 billion, a P/E ratio of -13.08 and a beta of 0.65. The stock's 50 day moving average price is $18.48 and its 200 day moving average price is $21.72.

NovoCure (NASDAQ:NVCR - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.16. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The business had revenue of $154.99 million for the quarter, compared to analyst estimates of $147.57 million. During the same quarter in the previous year, the company earned ($0.36) EPS. The company's quarterly revenue was up 11.9% on a year-over-year basis. As a group, analysts predict that NovoCure will post -1.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NovoCure

Hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC boosted its position in NovoCure by 4.6% during the third quarter. Tidal Investments LLC now owns 55,756 shares of the medical equipment provider's stock worth $871,000 after acquiring an additional 2,465 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of NovoCure by 222.6% during the 3rd quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider's stock worth $2,904,000 after purchasing an additional 124,793 shares during the period. Versant Capital Management Inc boosted its holdings in shares of NovoCure by 35.8% during the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider's stock worth $100,000 after purchasing an additional 880 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of NovoCure by 57.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,321 shares of the medical equipment provider's stock valued at $129,000 after purchasing an additional 1,575 shares during the period. Finally, Blue Trust Inc. increased its stake in NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock valued at $56,000 after purchasing an additional 781 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other 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.