NovoCure (NVCR) Upgraded at Deutsche Bank
Deutsche Bank upgraded shares of NovoCure (NASDAQ:NVCR) from a hold rating to a buy rating in a report released on Thursday, Marketbeat Ratings reports. They currently have $19.00 price target on the medical equipment provider’s stock, down from their previous price target of $23.80.
Several other analysts have also commented on NVCR. Mizuho reaffirmed a buy rating and issued a $32.00 price objective (up previously from $28.00) on shares of NovoCure in a report on Wednesday. ValuEngine raised NovoCure from a sell rating to a hold rating in a report on Friday, February 2nd. Zacks Investment Research raised NovoCure from a sell rating to a hold rating in a report on Wednesday, February 28th. Finally, BidaskClub upgraded NovoCure from a sell rating to a hold rating in a research report on Friday, March 9th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. NovoCure has a consensus rating of Buy and an average price target of $21.33.
Shares of NVCR opened at $24.65 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.88 and a quick ratio of 4.44. NovoCure has a one year low of $10.50 and a one year high of $25.70. The firm has a market capitalization of $2,228.34, a P/E ratio of -35.21 and a beta of 3.16.
In related news, CEO Asaf Danziger sold 13,974 shares of NovoCure stock in a transaction on Monday, January 29th. The stock was sold at an average price of $24.02, for a total transaction of $335,655.48. Following the transaction, the chief executive officer now directly owns 356,790 shares in the company, valued at $8,570,095.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Wilhelmus Cm Groenhuysen sold 13,351 shares of NovoCure stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $19.83, for a total value of $264,750.33. Following the transaction, the chief financial officer now owns 252,412 shares in the company, valued at $5,005,329.96. The disclosure for this sale can be found here. Insiders have sold 248,924 shares of company stock worth $5,471,491 over the last quarter. 16.70% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Crow Point Partners LLC purchased a new position in shares of NovoCure in the fourth quarter valued at about $120,000. Two Sigma Advisers LP purchased a new position in shares of NovoCure in the fourth quarter valued at about $211,000. Elkfork Partners LLC purchased a new position in shares of NovoCure in the fourth quarter valued at about $225,000. Lazard Asset Management LLC purchased a new position in shares of NovoCure in the fourth quarter valued at about $271,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of NovoCure in the fourth quarter valued at about $310,000. Institutional investors and hedge funds own 42.83% of the company’s stock.
NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.
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