NovoCure (NASDAQ:NVCR) Cut to Sell at StockNews.com

StockNews.com lowered shares of NovoCure (NASDAQ:NVCR) from a hold rating to a sell rating in a report issued on Monday.

A number of other equities analysts also recently issued reports on NVCR. Wedbush reiterated a “neutral” rating and set a $29.00 price target on shares of NovoCure in a research report on Monday, January 13th. HC Wainwright reiterated a “buy” rating and set a $38.00 target price on shares of NovoCure in a research report on Tuesday, January 14th. Piper Sandler boosted their price target on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $18.00 to $30.00 in a report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.67.

NovoCure Price Performance

NASDAQ:NVCR opened at $19.15 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. The company has a 50 day moving average price of $24.84 and a 200-day moving average price of $21.45. NovoCure has a 1-year low of $11.70 and a 1-year high of $34.13. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of -13.68 and a beta of 0.63.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.27). NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm had revenue of $161.27 million during the quarter, compared to analysts’ expectations of $161.30 million. Equities research analysts forecast that NovoCure will post -1.3 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Soleus Capital Management L.P. purchased a new stake in shares of NovoCure during the fourth quarter worth $81,643,000. Nordwand Advisors LLC boosted its position in NovoCure by 100.0% during the third quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider’s stock worth $47,356,000 after acquiring an additional 1,514,824 shares during the last quarter. Capital International Investors grew its stake in NovoCure by 12.0% during the 4th quarter. Capital International Investors now owns 8,873,902 shares of the medical equipment provider’s stock valued at $264,442,000 after acquiring an additional 951,141 shares in the last quarter. Granite Investment Partners LLC acquired a new stake in NovoCure in the 4th quarter valued at about $20,464,000. Finally, Emerald Advisers LLC purchased a new position in NovoCure in the 4th quarter worth approximately $16,317,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.