NVCR has been the subject of several analyst reports. Truist Financial lowered its price target on NovoCure to $102.00 from $105.00 and gave the stock a “buy” rating in a research note on Friday, October 28. HC Wainwright lowered its price target on NovoCure to $100.00 from $115.00 and gave the company a buy rating in a report on Friday, October 28. StockNews.com began coverage of NovoCure in a research note on Wednesday, October 12th. They gave the company a “hold” rating. Wells Fargo & Company upgraded NovoCure from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, November 29, and raised the company’s price target to $89.00 from $74.00. Finally, Piper Sandler lowered NovoCure from an “overweight” rating to a “neutral” rating and lowered the price target on the stock to $70.00 from $90.00 in a report on Monday, October 24.
NovoCure stock up 0.3%
Shares of NovoCure opened at $74.78 on Friday. The stock has a 50-day simple moving average of $74.75 and a 200-day simple moving average of $75.76. NovoCure has a 52-week low of $56.39 and a 52-week high of $90.98. The company has a gearing ratio of 1.27, a current ratio of 7.81 and a quick ratio of 7.62. The company has a market cap of $7.85 billion, a price-to-earnings ratio of -97.12 and a beta of 0.77.
NovoCure (NASDAQ:NVCR – Get Rating) last reported its quarterly results on Thursday, October 27th. The medical equipment maker reported earnings per share of ($0.25) for the quarter, beating analyst consensus estimates of ($0.30) by $0.05. The company had revenue of $131.00 million for the quarter, compared to analysts’ expectations of $134.83 million. NovoCure had a negative return on equity of 18.85% and a negative net margin of 15.05%. On average, equity analysts expect NovoCure to report earnings per share of -0.84 for the current fiscal year.
Insider activity at NovoCure
In other news from NovoCure, insider Frank X. Leonard sold 6,754 shares of the stock in one transaction on Thursday, September 29. The stock sold at an average price of $77.35 for a total transaction of $522,421.90. Following the sale, the insider now owns 57,134 shares of the company’s stock valued at $4,419,314.90. The transaction was disclosed in a document filed with the SEC, available at this hyperlink. During the most recent quarter, insiders sold 27,016 shares of the company’s shares for $2,125,686. Insiders own 6.22% of the company’s stock.
Institutional inflows and outflows
Institutional investors and hedge funds have recently changed their stock holdings. Capital International Sarl increased its stake in NovoCure by 11.3% in the first quarter. Capital International Sarl now owns 51,581 shares of the medical equipment maker valued at $4,273,000 after purchasing an additional 5,237 shares during the period. TD Asset Management Inc. increased its stake in NovoCure shares by 75.7% in the first quarter. TD Asset Management Inc. now owns 108,680 shares of the $9,004,000 medical equipment maker after buying another 46,816 shares last quarter. UBS Asset Management Americas Inc. increased its stake in NovoCure shares by 38.0% in the second quarter. UBS Asset Management Americas Inc. now owns 430,820 shares of the medical device maker, valued at $29,942,000, after buying another 118,577 shares last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in NovoCure by 3.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 266,777 shares of the medical device maker, valued at $18,541,000, after purchasing an additional 8,933 shares last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding SA acquired a new stake in NovoCure valued at $224,000 in Q1. 76.45% of the shares are owned by institutional investors.
NovoCure Limited, an oncology company, is engaged in the development, manufacture and marketing of TTFields (Tumor Treating Fields) devices for the treatment of solid tumors in the United States, Europe, the Middle East, Africa, Japan and Greater China. Its TTFields devices include Optune for the treatment of glioblastoma; and Optune Lua for the treatment of malignant pleural mesothelioma.
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