NovoCure (NASDAQ:NVCR) Stock Price Expected to Rise, LADENBURG THALM/SH SH Analyst Says

NovoCure (NASDAQ:NVCR) had its price target lifted by analysts at LADENBURG THALM/SH SH from $27.00 to $31.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. LADENBURG THALM/SH SH‘s price target indicates a potential upside of 162.49% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Wedbush cut their price objective on NovoCure from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday. Zacks Research raised NovoCure from a “strong sell” rating to a “hold” rating in a research report on Friday, July 24th. Weiss Ratings lowered shares of NovoCure from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 30th. Wells Fargo & Company cut their price target on NovoCure from $20.00 to $15.00 and set an “equal weight” rating for the company in a report on Friday, October 30th. Finally, Wall Street Zen raised shares of NovoCure from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, NovoCure currently has an average rating of “Hold” and an average price target of $22.33.

NovoCure Stock Performance

Shares of NovoCure stock traded down $0.72 during mid-day trading on Tuesday, hitting $11.81. 1,927,374 shares of the stock were exchanged, compared to its average volume of 1,689,689. NovoCure has a 12 month low of $9.82 and a 12 month high of $21.45. The company has a 50-day simple moving average of $15.30 and a 200 day simple moving average of $14.78. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.34 and a current ratio of 2.49. The company has a market capitalization of $1.38 billion, a P/E ratio of -11.14 and a beta of 1.09.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, October 29th. The medical equipment provider reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.14. The company had revenue of $193.40 million during the quarter, compared to analyst estimates of $182.28 million. NovoCure had a negative return on equity of 35.81% and a negative net margin of 16.78%. NovoCure’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.33) earnings per share. Sell-side analysts anticipate that NovoCure will post -1.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Sei Investments Co. increased its holdings in NovoCure by 367.6% during the 1st quarter. Sei Investments Co. now owns 114,281 shares of the medical equipment provider’s stock valued at $1,246,000 after purchasing an additional 89,839 shares during the period. First Trust Advisors LP bought a new stake in shares of NovoCure during the 1st quarter valued at $1,028,000. Quantinno Capital Management LP boosted its stake in NovoCure by 23.7% during the first quarter. Quantinno Capital Management LP now owns 2,487,376 shares of the medical equipment provider’s stock worth $27,112,000 after acquiring an additional 477,128 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of NovoCure by 27.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 960,056 shares of the medical equipment provider’s stock worth $10,462,000 after buying an additional 207,913 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new position in shares of NovoCure during the second quarter valued at $2,248,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

About NovoCure

NovoCure is a global oncology company that develops and commercializes Tumor Treating Fields (TTFields), a cancer treatment that uses wearable devices to deliver low-intensity electric fields intended to disrupt cancer cell division. Its products include Optune Gio and Optune Lua, which are used to treat certain cancers. The company is headquartered in Baar, Switzerland, and serves patients in markets across North America, Europe and Asia. NovoCure was founded in 2000 by Yoram Palti, a medical researcher who developed the TTFields approach.