NovoCure (NASDAQ:NVCR) Stock Price Expected to Rise, HC Wainwright Analyst Says

NovoCure (NASDAQ:NVCR) had its price objective lifted by equities researchers at HC Wainwright from $47.00 to $49.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. HC Wainwright’s target price would suggest a potential upside of 263.50% from the stock’s current price.

NVCR has been the subject of several other reports. Weiss Ratings reissued a “sell (e+)” rating on shares of NovoCure in a report on Thursday, January 22nd. Wedbush restated a “neutral” rating and set a $18.00 target price on shares of NovoCure in a research report on Thursday, January 15th. Finally, Evercore set a $20.00 price target on shares of NovoCure in a research report on Monday, January 5th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.93.

NovoCure Stock Performance

NVCR traded down $1.51 on Thursday, hitting $13.48. 3,465,217 shares of the company traded hands, compared to its average volume of 2,192,670. NovoCure has a 12-month low of $9.82 and a 12-month high of $21.55. The company has a 50 day moving average of $12.69 and a 200-day moving average of $12.62. The company has a quick ratio of 1.50, a current ratio of 1.55 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.51 billion, a PE ratio of -8.34 and a beta of 0.73.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, February 26th. The medical equipment provider reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.19. NovoCure had a negative return on equity of 50.29% and a negative net margin of 27.66%.The business had revenue of $174.35 million for the quarter, compared to analyst estimates of $174.40 million. During the same quarter in the previous year, the company posted ($0.61) earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts anticipate that NovoCure will post -1.3 earnings per share for the current year.

Institutional Trading of NovoCure

A number of institutional investors have recently modified their holdings of the company. Empowered Funds LLC acquired a new stake in NovoCure during the 4th quarter worth approximately $33,000. SJS Investment Consulting Inc. purchased a new stake in NovoCure during the third quarter worth approximately $41,000. Kestra Advisory Services LLC purchased a new stake in NovoCure during the fourth quarter worth approximately $49,000. Larson Financial Group LLC raised its stake in shares of NovoCure by 662.1% in the 3rd quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock valued at $53,000 after acquiring an additional 3,562 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of NovoCure by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock worth $70,000 after buying an additional 1,120 shares during the period. Hedge funds and other institutional investors own 84.61% of the company’s stock.

About NovoCure

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.