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 note issued to investors on Saturday.

Several other equities research analysts have also commented on the stock. Piper Sandler increased their price objective 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 reaffirmed a "neutral" rating and set a $29.00 price target on shares of NovoCure in a research report on Monday, January 13th. Evercore ISI upgraded NovoCure from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $18.00 to $30.00 in a report on Monday, December 2nd. Finally, HC Wainwright restated a "buy" rating and issued a $38.00 price objective on shares of NovoCure in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, NovoCure currently has a consensus rating of "Moderate Buy" and an average price target of $35.80.

NovoCure Stock Up 2.4 %

Shares of NVCR stock traded up $0.42 during trading hours on Friday, reaching $17.94. The company had a trading volume of 588,205 shares, compared to its average volume of 1,195,272. The business has a fifty day simple moving average of $21.19 and a 200-day simple moving average of $21.65. NovoCure has a 12 month low of $11.70 and a 12 month high of $34.13. The company has a market cap of $1.97 billion, a price-to-earnings ratio of -12.81 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 posted 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). The firm had revenue of $161.27 million for the quarter, compared to analysts' expectations of $161.30 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. On average, research analysts expect that NovoCure will post -1.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NovoCure

Institutional investors have recently bought and sold shares of the company. Soleus Capital Management L.P. bought a new stake in shares of NovoCure in the fourth quarter valued at $81,643,000. Capital International Investors raised its stake in NovoCure by 12.0% in the 4th quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider's stock valued at $264,442,000 after acquiring an additional 951,141 shares during the period. Granite Investment Partners LLC purchased a new stake in NovoCure during the fourth quarter valued at about $20,464,000. Emerald Advisers LLC bought a new position in NovoCure during the fourth quarter worth about $16,317,000. Finally, Capital World Investors lifted its stake in shares of NovoCure by 11.8% during the 4th quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider's stock valued at $143,503,000 after buying an additional 507,311 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.