NovoCure (NASDAQ:NVCR) Given Buy Rating at HC Wainwright

NovoCure (NASDAQ:NVCR)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $38.00 target price on the medical equipment provider’s stock, up from their previous target price of $30.00. HC Wainwright’s price target indicates a potential upside of 36.30% from the stock’s previous close.

Separately, Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $18.00 to $30.00 in a research report on Monday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

NovoCure Trading Up 39.1 %

Shares of NVCR stock traded up $7.84 on Monday, hitting $27.88. The stock had a trading volume of 6,139,191 shares, compared to its average volume of 1,291,769. NovoCure has a twelve month low of $11.66 and a twelve month high of $28.45. The firm has a market cap of $3.02 billion, a P/E ratio of -19.91 and a beta of 0.71. 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 company has a fifty day moving average price of $16.65 and a two-hundred day moving average price of $18.39.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.06. The business had revenue of $155.10 million for the quarter, compared to analysts’ expectations of $143.95 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.46) EPS. As a group, analysts forecast that NovoCure will post -1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NovoCure

A number of institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in shares of NovoCure by 222.6% in the 3rd quarter. Franklin Resources Inc. now owns 180,853 shares of the medical equipment provider’s stock valued at $2,904,000 after purchasing an additional 124,793 shares during the period. Tidal Investments LLC grew its stake in NovoCure by 4.6% in the 3rd quarter. Tidal Investments LLC now owns 55,756 shares of the medical equipment provider’s stock valued at $871,000 after buying an additional 2,465 shares during the last quarter. Geode Capital Management LLC grew its stake in NovoCure by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock valued at $37,601,000 after buying an additional 29,871 shares during the last quarter. Weiss Asset Management LP acquired a new position in NovoCure in the 3rd quarter valued at about $735,000. Finally, IHT Wealth Management LLC acquired a new position in NovoCure in the 3rd quarter valued at about $180,000. 84.61% of the stock is owned by institutional investors.

About NovoCure

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.