HC Wainwright Boosts NovoCure (NASDAQ:NVCR) Price Target to $24.00

NovoCure (NASDAQ:NVCR) had its price objective hoisted by HC Wainwright from $22.00 to $24.00 in a research note released on Wednesday, Benzinga reports. HC Wainwright currently has a neutral rating on the medical equipment provider’s stock.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lifted their target price on NovoCure from $15.00 to $17.00 and gave the stock a neutral rating in a report on Tuesday, March 19th. Evercore ISI boosted their price objective on NovoCure from $14.00 to $15.00 and gave the company an in-line rating in a report on Friday, February 23rd. Finally, Wedbush restated a neutral rating and set a $21.00 price objective on shares of NovoCure in a report on Monday, January 8th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $34.13.

NovoCure Price Performance

Shares of NovoCure stock opened at $15.63 on Wednesday. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -8.02 and a beta of 0.41. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.56 and a current ratio of 5.78. The stock has a 50 day moving average price of $14.97 and a 200-day moving average price of $14.47. NovoCure has a one year low of $10.87 and a one year high of $83.60.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Thursday, February 22nd. The medical equipment provider reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.08. The firm had revenue of $133.80 million during the quarter, compared to analysts’ expectations of $133.80 million. NovoCure had a negative return on equity of 51.63% and a negative net margin of 40.65%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.36) EPS. Equities analysts expect that NovoCure will post -1.73 EPS for the current year.

Insider Buying and Selling at NovoCure

In other NovoCure news, EVP Frank X. Leonard sold 2,078 shares of NovoCure stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total transaction of $33,538.92. Following the completion of the sale, the executive vice president now directly owns 162,617 shares of the company’s stock, valued at approximately $2,624,638.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other NovoCure news, EVP Frank X. Leonard sold 2,078 shares of NovoCure stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $16.14, for a total transaction of $33,538.92. Following the completion of the sale, the executive vice president now directly owns 162,617 shares of the company’s stock, valued at approximately $2,624,638.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Frank X. Leonard sold 1,679 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.03, for a total value of $26,914.37. Following the completion of the transaction, the executive vice president now directly owns 160,938 shares of the company’s stock, valued at $2,579,836.14. The disclosure for this sale can be found here. Insiders sold a total of 7,921 shares of company stock valued at $127,161 in the last ninety days. Corporate insiders own 5.67% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. UMB Bank n.a. bought a new position in shares of NovoCure in the 3rd quarter worth $26,000. UniSuper Management Pty Ltd bought a new position in shares of NovoCure in the 2nd quarter worth $29,000. China Universal Asset Management Co. Ltd. increased its position in NovoCure by 96.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,739 shares of the medical equipment provider’s stock valued at $44,000 after buying an additional 1,347 shares in the last quarter. US Bancorp DE increased its position in NovoCure by 46.1% during the 4th quarter. US Bancorp DE now owns 3,737 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 1,179 shares in the last quarter. Finally, CWM LLC increased its position in NovoCure by 127.9% during the 3rd quarter. CWM LLC now owns 3,891 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 2,184 shares in the last quarter. 84.61% of the stock is owned by institutional investors.

NovoCure Company Profile

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.