NovoCure Receives Upgrade to Hold from StockNews.com

NovoCure (NASDAQ:NVCR) has received an upgrade from a "sell" rating to a "hold" rating by analysts at StockNews.com in a report released on Tuesday.

In addition to StockNews.com's update, other analysts have also shared their insights on NovoCure's stock performance. Piper Sandler increased their price target for NovoCure shares from $28.00 to $42.00, assigning the stock an "overweight" rating in a report published on December 13th. Likewise, HC Wainwright reaffirmed a "buy" rating, establishing a price target of $38.00 for the shares in a January 14th report. Additionally, Evercore ISI upgraded NovoCure from an "in-line" rating to an "outperform" rating, raising their target price from $18.00 to $30.00 as noted in their report from December 2nd. On January 13th, Wedbush maintained a "neutral" rating, setting a target price of $29.00. Currently, three analysts rate NovoCure as a hold, while four analysts suggest a buy rating, resulting in a consensus rating of "Moderate Buy" alongside a consensus target price of $32.67, according to MarketBeat.

NovoCure Stock Performance

During midday trading on Tuesday, NovoCure's shares had a slight decline of $0.23, bringing the stock price down to $19.36. There were 915,320 shares traded, compared to the average trading volume of 1,250,002 shares. Over the past year, NovoCure's stock has seen a low of $11.70 and a high of $34.13. The company boasts a market capitalization of $2.13 billion, with a negative P/E ratio of -13.83 and a beta of 0.63. The 50-day moving average price for NovoCure is $23.02, and its 200-day average is $21.58. Financial indicators also show a debt-to-equity ratio of 0.27, a quick ratio of 1.44, and a current ratio of 1.49.

NovoCure's last quarterly earnings report was released on February 27th. In that quarter, the medical equipment company reported an earnings per share (EPS) of -$0.61, falling short of analysts' expectations of -$0.34 by a margin of -$0.27. The company's return on equity stood at a negative 41.48%, with a negative net margin of 25.93%. Total revenue for the quarter reached $161.27 million, slightly below the consensus estimate of $161.30 million. Looking ahead, sell-side analysts anticipate that NovoCure will report an average EPS of -$1.3 for the current fiscal year.

Institutional Investor Activity

Recently, there have been several changes among institutional investors regarding their positions in NovoCure. GeoWealth Management LLC made a new investment in NovoCure shares during the fourth quarter, valued at approximately $27,000. Lindbrook Capital LLC increased its shareholding by 189.2% in the same quarter, owning a total of 1,854 shares valued at $55,000 after acquiring an additional 1,213 shares. Additionally, Blue Trust Inc. raised its stake by 70.7%, now possessing 1,886 shares worth $56,000 after acquiring another 781 shares. GF Fund Management Co. Ltd. acquired a new stake valued at around $68,000 during the fourth quarter, while SBI Securities Co. Ltd. also made a new investment, amounting to approximately $70,000. Currently, institutional investors and hedge funds collectively own 84.61% of the company's stock.

About NovoCure

NovoCure Limited is an oncology company that focuses on the development, manufacturing, and commercialization of tumor treating fields (TTFields) devices. These devices are designed for the treatment of solid tumors and are available in various regions, including the United States, Germany, Japan, and Greater China. Key products include the Optune Gio and Optune Lua devices.

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