NovoCure (NASDAQ:NVCR) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of NovoCure (NASDAQ:NVCR) from a buy rating to a hold rating in a report issued on Saturday morning,Wall Street Zen reports.

Several other research firms have also commented on NVCR. JPMorgan Chase & Co. started coverage on shares of NovoCure in a research report on Monday, July 13th. They set a “neutral” rating and a $17.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of NovoCure in a research note on Thursday, August 27th. Zacks Research upgraded NovoCure from a “strong sell” rating to a “hold” rating in a report on Friday, July 24th. HC Wainwright set a $32.00 target price on NovoCure in a research report on Friday, July 24th. Finally, Wedbush upped their target price on shares of NovoCure from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Two 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.20.

NovoCure Price Performance

Shares of NVCR opened at $14.58 on Friday. The stock has a market capitalization of $1.70 billion, a PE ratio of -11.22 and a beta of 0.99. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.70 and a current ratio of 2.89. NovoCure has a fifty-two week low of $9.82 and a fifty-two week high of $21.45. The company has a 50 day moving average price of $16.56 and a 200-day moving average price of $15.62.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, July 23rd. The medical equipment provider reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.20. NovoCure had a negative net margin of 21.25% and a negative return on equity of 44.00%. The firm had revenue of $183.58 million during the quarter, compared to analyst estimates of $172.44 million. During the same quarter in the previous year, the business posted ($0.36) EPS. NovoCure’s revenue was up 15.6% on a year-over-year basis. Equities analysts predict that NovoCure will post -1.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NovoCure

Institutional investors have recently modified their holdings of the company. Sei Investments Co. increased its position in NovoCure by 367.6% during the first quarter. Sei Investments Co. now owns 114,281 shares of the medical equipment provider’s stock worth $1,246,000 after buying an additional 89,839 shares in the last quarter. Eversept Partners LP acquired a new stake in shares of NovoCure in the fourth quarter worth $1,564,000. First Trust Advisors LP purchased a new position in NovoCure in the first quarter valued at about $1,028,000. Dimensional Fund Advisors LP raised its holdings in shares of NovoCure by 27.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 960,056 shares of the medical equipment provider’s stock valued at $10,462,000 after buying an additional 207,913 shares during the period. Finally, Quantinno Capital Management LP lifted its position in shares of 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 purchasing an additional 477,128 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

About NovoCure

NovoCure Ltd. (NASDAQ: NVCR) is an oncology company focused on developing and commercializing Tumor Treating Fields (TTFields), a non-invasive cancer treatment that uses low-intensity alternating electric fields to disrupt the division of tumor cells. The company’s technology is designed to be delivered through wearable systems that generate fields at specific frequencies and intensities.

NovoCure’s primary products include Optune Gio, marketed in the United States for certain adults with glioblastoma, and Optune Lua, approved in the United States for use with standard chemotherapy in adults with unresectable, locally advanced or metastatic malignant pleural mesothelioma.