NovoCure (NASDAQ:NVCR) Upgraded to "Hold" at StockNews.com

StockNews.com upgraded shares of NovoCure (NASDAQ:NVCR - Free Report) from a sell rating to a hold rating in a research report report published on Tuesday morning.

A number of other equities research analysts have also recently issued reports on the company. Piper Sandler boosted their price objective on NovoCure from $28.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Evercore ISI upgraded NovoCure from an "in-line" rating to an "outperform" rating and boosted their price objective for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. Wedbush reaffirmed a "neutral" rating and set a $29.00 target price on shares of NovoCure in a report on Monday, January 13th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $38.00 target price on shares of NovoCure in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.80.

NovoCure Stock Performance

Shares of NASDAQ NVCR traded up $0.15 during mid-day trading on Tuesday, reaching $19.33. 1,078,325 shares of the company's stock were exchanged, compared to its average volume of 1,246,372. NovoCure has a 52 week low of $11.70 and a 52 week high of $34.13. The firm has a 50-day moving average price of $22.47 and a two-hundred day moving average price of $21.58. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -13.81 and a beta of 0.63. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mackenzie Financial Corp purchased a new position in shares of NovoCure during the fourth quarter worth about $203,000. GF Fund Management CO. LTD. purchased a new position in shares of NovoCure during the fourth quarter worth about $68,000. Soleus Capital Management L.P. purchased a new position in shares of NovoCure during the fourth quarter worth about $81,643,000. Teza Capital Management LLC grew its holdings in shares of NovoCure by 573.0% during the fourth quarter. Teza Capital Management LLC now owns 100,200 shares of the medical equipment provider's stock worth $2,986,000 after purchasing an additional 85,312 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of NovoCure by 264.6% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,901 shares of the medical equipment provider's stock worth $206,000 after purchasing an additional 5,008 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company's stock.

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.