Y Intercept Hong Kong Ltd Takes Position in NovoCure Limited (NASDAQ:NVCR)

Y Intercept Hong Kong Ltd acquired a new stake in NovoCure Limited (NASDAQ:NVCR) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 18,769 shares of the medical equipment provider’s stock, valued at approximately $559,000.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. grew its stake in shares of NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 781 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of NovoCure in the third quarter valued at $45,000. Versant Capital Management Inc grew its stake in shares of NovoCure by 35.8% in the fourth quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock valued at $100,000 after buying an additional 880 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of NovoCure by 58.5% in the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock valued at $57,000 after buying an additional 1,354 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of NovoCure by 21.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock valued at $61,000 after buying an additional 701 shares in the last quarter. 84.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NVCR. Piper Sandler lifted their price objective on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Wedbush reiterated a “neutral” rating and issued a $29.00 target price on shares of NovoCure in a report on Monday, January 13th. Evercore ISI upgraded NovoCure from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $18.00 to $30.00 in a report on Monday, December 2nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $38.00 target price on shares of NovoCure in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, NovoCure currently has an average rating of “Moderate Buy” and an average price target of $32.67.

NovoCure Stock Down 0.8 %

Shares of NASDAQ NVCR opened at $19.07 on Friday. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of -13.62 and a beta of 0.62. 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 business has a 50-day moving average of $25.57 and a two-hundred day moving average of $21.44. NovoCure Limited has a 1 year low of $11.70 and a 1 year high of $34.13.

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

NovoCure Profile

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.