NovoCure (NASDAQ:NVCR) Rating Lowered to "Sell" at StockNews.com

NovoCure (NASDAQ:NVCR - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued on Monday.

NVCR has been the topic of several other reports. HC Wainwright reaffirmed a "buy" rating and issued a $38.00 target price on shares of NovoCure in a report on Tuesday, January 14th. Piper Sandler upped their price target on shares of NovoCure from $28.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Wedbush reissued a "neutral" rating and issued a $29.00 price objective on shares of NovoCure in a research note on Monday, January 13th. Finally, Evercore ISI raised NovoCure from an "in-line" rating to an "outperform" rating and boosted their price objective for the stock from $18.00 to $30.00 in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $32.67.

NovoCure Stock Performance

NASDAQ NVCR traded up $0.92 on Monday, reaching $20.18. 925,166 shares of the stock were exchanged, compared to its average volume of 1,253,049. The firm has a market capitalization of $2.22 billion, a PE ratio of -14.41 and a beta of 0.63. NovoCure has a one year low of $11.70 and a one year high of $34.13. The company's 50-day simple moving average is $24.58 and its two-hundred day simple moving average is $21.43. The company has a current ratio of 1.49, a quick ratio of 1.44 and a debt-to-equity ratio of 0.27.

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NovoCure (NASDAQ:NVCR - Get Free Report) last released its earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.27). NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The business had revenue of $161.27 million for the quarter, compared to analysts' expectations of $161.30 million. Analysts expect that NovoCure will post -1.3 EPS for the current fiscal year.

Hedge Funds Weigh In On NovoCure

A number of hedge funds have recently added to or reduced their stakes in NVCR. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of NovoCure by 21.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider's stock valued at $61,000 after buying an additional 701 shares during the last quarter. Summit Investment Advisors Inc. increased its position in shares of NovoCure by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,141 shares of the medical equipment provider's stock worth $332,000 after purchasing an additional 708 shares in the last quarter. Blue Trust Inc. increased its position in NovoCure by 70.7% during the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock valued at $56,000 after buying an additional 781 shares in the last quarter. Versant Capital Management Inc raised its stake in NovoCure by 35.8% in the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider's stock valued at $100,000 after buying an additional 880 shares during the last quarter. Finally, GeoWealth Management LLC acquired a new stake in NovoCure in the fourth quarter worth about $27,000. 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.