NovoCure Limited (NASDAQ:NVCR – Get Free Report) dropped 3.9% during mid-day trading on Friday after Wells Fargo & Company lowered their price target on the stock from $42.00 to $40.00. Wells Fargo & Company currently has an overweight rating on the stock. NovoCure traded as low as $17.85 and last traded at $17.93. Approximately 153,518 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,401,677 shares. The stock had previously closed at $18.65.
Several other equities analysts also recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $24.00 price target on shares of NovoCure in a report on Thursday. Evercore ISI upped their target price on shares of NovoCure from $14.50 to $20.00 and gave the stock an “in-line” rating in a research report on Tuesday, July 2nd. HC Wainwright lifted their price target on NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Friday. Finally, Piper Sandler reissued an “overweight” rating and issued a $28.00 price objective (up from $25.00) on shares of NovoCure in a report on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, NovoCure has an average rating of “Moderate Buy” and a consensus price target of $31.88.
View Our Latest Stock Report on NovoCure
Institutional Trading of NovoCure
NovoCure Stock Down 3.4 %
The firm has a market cap of $1.94 billion, a PE ratio of -10.26 and a beta of 0.70. The company has a debt-to-equity ratio of 1.59, a current ratio of 6.26 and a quick ratio of 5.99. The business has a fifty day moving average price of $19.90 and a two-hundred day moving average price of $16.50.
NovoCure (NASDAQ:NVCR – Get Free Report) last released its earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.09. The company had revenue of $150.40 million for the quarter, compared to analysts’ expectations of $135.83 million. NovoCure had a negative return on equity of 50.35% and a negative net margin of 36.67%. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.54) EPS. On average, analysts anticipate that NovoCure Limited will post -1.59 EPS for the current fiscal year.
About NovoCure
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.
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