Novocure (NVCR) Raised to Strong-Buy at ValuEngine
ValuEngine upgraded shares of Novocure (NASDAQ:NVCR) from a buy rating to a strong-buy rating in a report released on Thursday.
A number of other research firms also recently weighed in on NVCR. Deutsche Bank set a $44.00 price target on shares of Novocure and gave the company a hold rating in a research note on Thursday, September 20th. Zacks Investment Research lowered shares of Novocure from a hold rating to a sell rating in a research report on Thursday, September 27th. Wells Fargo & Co raised their target price on shares of Novocure from $53.00 to $58.00 and gave the company a positive rating in a research report on Wednesday, September 19th. JPMorgan Chase & Co. reissued a buy rating on shares of Novocure in a report on Sunday, September 16th. Finally, Mizuho reissued a buy rating and set a $58.00 price objective on shares of Novocure in a report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Novocure currently has a consensus rating of Buy and a consensus target price of $48.00.
NASDAQ:NVCR traded up $1.25 during trading hours on Thursday, hitting $43.25. The company’s stock had a trading volume of 910,700 shares, compared to its average volume of 791,356. The firm has a market capitalization of $3.76 billion, a PE ratio of -61.79 and a beta of 2.86. The company has a quick ratio of 5.72, a current ratio of 6.17 and a debt-to-equity ratio of 1.30. Novocure has a twelve month low of $19.06 and a twelve month high of $53.70.
In other news, Director Gabriel Leung sold 5,000 shares of Novocure stock in a transaction on Monday, December 10th. The shares were sold at an average price of $33.49, for a total transaction of $167,450.00. Following the transaction, the director now owns 65,000 shares in the company, valued at $2,176,850. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Pritesh Shah sold 38,781 shares of Novocure stock in a transaction on Wednesday, December 12th. The stock was sold at an average price of $36.00, for a total transaction of $1,396,116.00. Following the transaction, the insider now owns 39,619 shares in the company, valued at approximately $1,426,284. The disclosure for this sale can be found here. 15.30% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc lifted its stake in shares of Novocure by 1.1% in the third quarter. Legal & General Group Plc now owns 28,027 shares of the medical equipment provider’s stock worth $1,469,000 after acquiring an additional 301 shares during the period. Vanguard Group Inc lifted its position in shares of Novocure by 9.6% in the 3rd quarter. Vanguard Group Inc now owns 5,424,908 shares of the medical equipment provider’s stock worth $284,265,000 after purchasing an additional 476,635 shares during the period. Federated Investors Inc. PA lifted its position in shares of Novocure by 48.2% in the 3rd quarter. Federated Investors Inc. PA now owns 179,437 shares of the medical equipment provider’s stock worth $9,402,000 after purchasing an additional 58,319 shares during the period. Vanguard Group Inc. lifted its position in shares of Novocure by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,424,908 shares of the medical equipment provider’s stock worth $284,265,000 after purchasing an additional 476,635 shares during the period. Finally, Teachers Advisors LLC lifted its position in shares of Novocure by 1.9% in the 3rd quarter. Teachers Advisors LLC now owns 142,965 shares of the medical equipment provider’s stock worth $7,491,000 after purchasing an additional 2,712 shares during the period. 58.58% of the stock is currently owned by hedge funds and other institutional investors.
Novocure Company Profile
Novocure Ltd. operates as an oncology company. It enages in developing its propriety technoclogy, Tumor Treating Fields, which uses electric fields tuned to specific frequencies to disrupt cancer cell division, inhibiting tumor growth, and causing affected cancer cells to die. The company was founded by Yoram Palti in 2000 and is headquartered in St.
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