NovoCure (NASDAQ:NVCR – Free Report) had its target price boosted by Evercore ISI from $14.50 to $20.00 in a research report released on Tuesday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the medical equipment provider’s stock.
A number of other brokerages have also recently weighed in on NVCR. Piper Sandler reaffirmed an overweight rating and issued a $28.00 price target (up previously from $25.00) on shares of NovoCure in a research report on Wednesday, April 10th. Wedbush reissued an outperform rating and set a $24.00 price objective (up previously from $21.00) on shares of NovoCure in a research report on Monday, June 3rd. Wells Fargo & Company cut their price objective on NovoCure from $49.00 to $42.00 and set an overweight rating for the company in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their price objective on NovoCure from $15.00 to $17.00 and gave the stock a neutral rating in a research report on Tuesday, March 19th. Finally, HC Wainwright reissued a neutral rating and set a $22.00 price objective on shares of NovoCure in a research report on Tuesday, June 4th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $31.88.
Check Out Our Latest Report on NovoCure
NovoCure Price Performance
NovoCure (NASDAQ:NVCR – Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. NovoCure had a negative return on equity of 50.35% and a negative net margin of 36.67%. The company had revenue of $138.50 million during the quarter, compared to analysts’ expectations of $131.44 million. During the same quarter in the previous year, the firm earned ($0.50) earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. Analysts forecast that NovoCure will post -1.59 EPS for the current fiscal year.
Hedge Funds Weigh In On NovoCure
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC bought a new position in NovoCure during the first quarter valued at about $695,000. Jacobs Levy Equity Management Inc. increased its stake in NovoCure by 305.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 475,226 shares of the medical equipment provider’s stock valued at $7,428,000 after acquiring an additional 358,062 shares during the period. Aristides Capital LLC bought a new position in NovoCure during the first quarter valued at about $178,000. Price T Rowe Associates Inc. MD grew its stake in shares of NovoCure by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,378,940 shares of the medical equipment provider’s stock valued at $37,184,000 after purchasing an additional 125,715 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of NovoCure in the 1st quarter valued at approximately $113,000. 84.61% of the stock is currently owned by institutional investors.
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.
See Also
- Five stocks we like better than NovoCure
- How to Calculate Options Profits
- Celebrate July 4th with These Red, White, & Blue Chip Stocks
- Manufacturing Stocks Investing
- AbbVie Stock: A Perfect Dip for Investors to Buy
- Canadian Penny Stocks: Can They Make You Rich?
- Forget NVIDIA: Super Micro Computer Stock Leads in Momentum
Receive News & Ratings for NovoCure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NovoCure and related companies with MarketBeat.com's FREE daily email newsletter.