NovoCure’s (NVCR) “Outperform” Rating Reaffirmed at Wedbush
Other analysts have also issued research reports about the company. Deutsche Bank AG lowered their target price on NovoCure from $28.00 to $16.00 and set a hold rating on the stock in a report on Friday, July 29th. Barclays PLC lowered their target price on NovoCure from $12.00 to $9.00 and set an underweight rating on the stock in a report on Friday, July 29th. JMP Securities lowered their target price on NovoCure from $43.00 to $34.00 and set a market outperform rating on the stock in a report on Friday, July 29th. Zacks Investment Research lowered NovoCure from a hold rating to a sell rating in a report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. lowered their target price on NovoCure from $29.00 to $14.00 and set an overweight rating on the stock in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. NovoCure presently has a consensus rating of Hold and an average price target of $20.17.
Shares of NovoCure (NASDAQ:NVCR) traded down 0.1839% during midday trading on Friday, reaching $9.9317. The company’s stock had a trading volume of 154,857 shares. The stock has a 50 day moving average price of $7.66 and a 200-day moving average price of $9.51. The company’s market capitalization is $861.87 million. NovoCure has a 52-week low of $5.95 and a 52-week high of $28.95.
NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.39) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.03. NovoCure had a negative return on equity of 69.89% and a negative net margin of 219.29%. Equities research analysts expect that NovoCure will post ($1.57) EPS for the current year.
A number of institutional investors have recently modified their holdings of NVCR. Riverhead Capital Management LLC acquired a new position in shares of NovoCure during the first quarter valued at about $673,000. Barclays PLC increased its position in shares of NovoCure by 14,504.3% in the first quarter. Barclays PLC now owns 26,872 shares of the company’s stock valued at $376,000 after buying an additional 26,688 shares during the last quarter. Regentatlantic Capital LLC acquired a new position in shares of NovoCure during the second quarter valued at about $225,000. Flossbach Von Storch AG acquired a new position in shares of NovoCure during the second quarter valued at about $395,000. Finally, Bank of New York Mellon Corp increased its position in shares of NovoCure by 498.6% in the second quarter. Bank of New York Mellon Corp now owns 137,091 shares of the company’s stock valued at $1,600,000 after buying an additional 114,190 shares during the last quarter. Hedge funds and other institutional investors own 23.92% of the company’s stock.
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a therapy called TTFields for the treatment of solid tumor cancers. TTFields is a low-toxicity anti-mitotic treatment that uses low-intensity, intermediate frequency, alternating electric fields to exert physical forces on molecules inside cancer cells, disrupting the basic machinery for normal cell division, leading to cancer cell death.
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