NovoCure (NASDAQ:NVCR) Given Buy Rating at HC Wainwright

NovoCure (NASDAQ:NVCR - Get Free Report)'s stock had its "buy" rating restated by equities researchers at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $38.00 price target on the medical equipment provider's stock. HC Wainwright's price objective would indicate a potential upside of 44.87% from the company's previous close.

Several other research firms have also recently weighed in on NVCR. Piper Sandler boosted their target price on NovoCure from $28.00 to $42.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Wedbush reissued a "neutral" rating and set a $29.00 price objective on shares of NovoCure in a report on Monday. Finally, Evercore ISI upgraded shares of NovoCure from an "in-line" rating to an "outperform" rating and upped their target price for the company from $18.00 to $30.00 in a report on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $32.67.

NovoCure Stock Down 4.2 %

NovoCure stock traded down $1.15 during trading on Tuesday, reaching $26.23. The stock had a trading volume of 1,022,367 shares, compared to its average volume of 1,161,921. NovoCure has a 52-week low of $11.70 and a 52-week high of $34.13. The business has a 50 day moving average price of $25.52 and a 200 day moving average price of $20.35. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.84 billion, a PE ratio of -18.74 and a beta of 0.64.

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

Institutional Trading of NovoCure

A number of large investors have recently bought and sold shares of the business. Nordwand Advisors LLC boosted its stake in shares of NovoCure by 100.0% during the third quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider's stock worth $47,356,000 after buying an additional 1,514,824 shares during the period. Renaissance Technologies LLC increased its holdings in shares of NovoCure by 171.9% in the second quarter. Renaissance Technologies LLC now owns 760,175 shares of the medical equipment provider's stock valued at $13,022,000 after purchasing an additional 480,600 shares during the period. AQR Capital Management LLC increased its holdings in shares of NovoCure by 234.2% in the second quarter. AQR Capital Management LLC now owns 431,445 shares of the medical equipment provider's stock valued at $7,391,000 after purchasing an additional 302,351 shares during the period. Franklin Resources Inc. raised its stake in shares of NovoCure by 222.6% during the third 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 last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of NovoCure during the third quarter worth $1,812,000. Institutional investors and hedge funds 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.