NovoCure (NASDAQ:NVCR) Rating Upgraded to Hold

NovoCure (NASDAQ:NVCR) received an upgrade from equities researchers at StockNews.com, moving its rating from "sell" to "hold" according to a report published on Tuesday.

In addition to this recent update, other analysts have also shared their opinions on NovoCure. For example, Piper Sandler significantly raised their price target for the stock from $28.00 to $42.00, labeling it as "overweight" in a report released on December 13th. Similarly, HC Wainwright reaffirmed a "buy" rating and set a price target of $38.00 for NovoCure shares in a report dated January 14th. Evercore ISI upgraded NovoCure from an "in-line" rating to an "outperform" rating, increasing their price target from $18.00 to $30.00 in a report from December 2nd. Lastly, Wedbush maintained a "neutral" rating with a target price of $29.00 as noted in their report on January 13th. Currently, three analysts rate the stock as a hold, while four have given it a buy rating. MarketBeat data shows that NovoCure has a consensus rating of "Moderate Buy" with an average target price set at $32.67.

NovoCure's Price Performance

During midday trading on Tuesday, shares of NVCR experienced a slight decline, falling by $0.23 to a price of $19.36. The trading volume was 915,320 shares, which is lower than the average volume of 1,250,002. Over the past year, the stock has recorded a low of $11.70 and a high of $34.13. NovoCure currently holds a market capitalization of $2.13 billion and has a P/E ratio of -13.83. The stock's beta is 0.63. The 50-day moving average price is $23.02, while the two-hundred day moving average price sits at $21.58. Financially, NovoCure has a debt-to-equity ratio of 0.27, a quick ratio of 1.44, and a current ratio of 1.49.

Furthermore, NovoCure's recent quarterly earnings report was released on February 27th. In that report, the medical device company reported an earnings per share (EPS) of ($0.61), which was below analysts' expectations of ($0.34) by a margin of ($0.27). The return on equity was negative at 41.48%, along with a negative net margin of 25.93%. The company generated revenue of $161.27 million for the quarter, a figure that was in line with the consensus estimate of $161.30 million. Analysts predict that NovoCure will continue to post negative earnings, estimating an EPS of -1.3 for the current year.

Institutional Investors' Interests in NovoCure

Recent activity shows large investors making changes to their positions in NovoCure. GeoWealth Management LLC acquired a new stake valued at approximately $27,000 in the fourth quarter. Additionally, Lindbrook Capital LLC increased its holdings by 189.2% during the same period, with its new total reaching 1,854 shares worth about $55,000. Blue Trust Inc. also reported a 70.7% increase, bringing its total holdings to 1,886 shares valued at $56,000 after acquiring an additional 781 shares. GF Fund Management Co. LTD acquired a new stake of approximately $68,000, while SBI Securities Co. Ltd. made a similar move with a stake of about $70,000. Currently, institutional investors and hedge funds hold approximately 84.61% of NovoCure's stock.

About NovoCure

NovoCure Limited is an oncology-focused company that specializes in the development, manufacturing, and commercialization of tumor treating fields (TTFields) devices. These devices are utilized for treating solid tumor cancers across various regions, including the United States, Germany, Japan, Greater China, and other international markets. Their TTFields devices include the Optune Gio and the Optune Lua.

NovoCure, Stocks, Analysis