NovoCure (NASDAQ:NVCR) Downgraded by StockNews.com to "Sell"

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

NVCR has been the topic of several other reports. HC Wainwright restated a "buy" rating and issued a $38.00 price objective on shares of NovoCure in a report on Tuesday, January 14th. Piper Sandler lifted their price objective on NovoCure from $28.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $29.00 price objective on shares of NovoCure in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, NovoCure presently has a consensus rating of "Hold" and a consensus price target of $34.50.

NovoCure Trading Up 2.6 %

Shares of NASDAQ NVCR traded up $0.42 during midday trading on Wednesday, hitting $16.50. The company's stock had a trading volume of 651,708 shares, compared to its average volume of 1,189,526. NovoCure has a 12-month low of $11.70 and a 12-month high of $34.13. 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 firm has a market cap of $1.81 billion, a P/E ratio of -11.79 and a beta of 0.65. The business's 50 day moving average is $19.59 and its two-hundred day moving average is $21.60.

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NovoCure (NASDAQ:NVCR - Get Free Report) last posted 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). The company had revenue of $161.27 million during the quarter, compared to analysts' expectations of $161.30 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. As a group, equities research analysts expect that NovoCure will post -1.3 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. GeoWealth Management LLC purchased a new position in NovoCure during the fourth quarter valued at approximately $27,000. Lindbrook Capital LLC increased its position in NovoCure by 189.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider's stock worth $55,000 after purchasing an additional 1,213 shares during the last quarter. Blue Trust Inc. increased its position in NovoCure by 70.7% during the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider's stock worth $56,000 after buying an additional 781 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of NovoCure in the fourth quarter worth about $68,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of NovoCure during the 4th quarter worth about $70,000. 84.61% of the stock is owned by institutional investors and hedge funds.

NovoCure Company Profile

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.