NovoCure (NASDAQ:NVCR) Rating Lowered to “Sell” at StockNews.com

NovoCure (NASDAQ:NVCR) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other research firms also recently weighed in on NVCR. Piper Sandler upped their target price on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. HC Wainwright restated a “buy” rating and issued a $38.00 price objective on shares of NovoCure in a report on Tuesday, January 14th. Wedbush reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of NovoCure in a research note on Monday, January 13th. Finally, Evercore ISI raised NovoCure from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $18.00 to $30.00 in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.80.

NovoCure Price Performance

Shares of NVCR opened at $18.86 on Friday. The firm has a market capitalization of $2.07 billion, a PE ratio of -13.47 and a beta of 0.63. 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’s 50-day moving average is $21.72 and its 200-day moving average is $21.68. NovoCure has a fifty-two week low of $11.70 and a fifty-two week high of $34.13.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. FMR LLC boosted its stake in NovoCure by 0.6% in the third quarter. FMR LLC now owns 16,232,008 shares of the medical equipment provider’s stock valued at $253,706,000 after acquiring an additional 90,422 shares during the last quarter. Capital International Investors raised its position in shares of 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 buying an additional 951,141 shares in the last quarter. Capital World Investors boosted its stake in NovoCure by 11.8% in the fourth quarter. Capital World Investors now owns 4,815,529 shares of the medical equipment provider’s stock worth $143,503,000 after buying an additional 507,311 shares in the last quarter. Soleus Capital Management L.P. purchased a new position in NovoCure in the 4th quarter worth $81,643,000. Finally, Geode Capital Management LLC boosted its holdings in NovoCure by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,405,257 shares of the medical equipment provider’s stock valued at $37,601,000 after acquiring an additional 29,871 shares during the period. 84.61% of the stock is 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.