Shares of Novocure Ltd (NASDAQ:NVCR) have earned an average rating of “Buy” from the ten ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $57.80.
A number of research firms have commented on NVCR. ValuEngine upgraded shares of XOMA from a “sell” rating to a “hold” rating in a report on Friday, May 24th. Wedbush set a $79.00 price objective on shares of Aimmune Therapeutics and gave the company a “buy” rating in a report on Friday, May 24th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novocure in a report on Sunday, May 26th. Oppenheimer began coverage on shares of Novocure in a report on Friday, June 28th. They issued an “outperform” rating and a $75.00 price objective for the company. Finally, BidaskClub upgraded shares of Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Friday, July 12th.
In other news, Chairman William F. Doyle sold 29,966 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $45.21, for a total transaction of $1,354,762.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Asaf Danziger sold 30,436 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $55.39, for a total transaction of $1,685,850.04. Following the sale, the chief executive officer now owns 275,146 shares of the company’s stock, valued at approximately $15,240,336.94. The disclosure for this sale can be found here. Insiders have sold a total of 846,470 shares of company stock valued at $48,223,770 in the last 90 days. Insiders own 5.60% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Strategic Financial Services Inc acquired a new stake in shares of Novocure during the 1st quarter worth approximately $207,000. BlackRock Inc. increased its holdings in Novocure by 1.0% in the 4th quarter. BlackRock Inc. now owns 4,796,688 shares of the medical equipment provider’s stock valued at $160,592,000 after purchasing an additional 46,754 shares during the last quarter. LPL Financial LLC acquired a new stake in Novocure in the 4th quarter valued at approximately $461,000. PNC Financial Services Group Inc. increased its holdings in Novocure by 158.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,670 shares of the medical equipment provider’s stock valued at $290,000 after purchasing an additional 5,309 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Novocure by 9.6% in the 1st quarter. Wells Fargo & Company MN now owns 1,049,656 shares of the medical equipment provider’s stock valued at $50,563,000 after purchasing an additional 92,084 shares during the last quarter. Institutional investors and hedge funds own 65.34% of the company’s stock.
NVCR stock traded down $1.63 during mid-day trading on Tuesday, reaching $69.39. The company’s stock had a trading volume of 865,043 shares, compared to its average volume of 831,706. The stock has a market cap of $6.65 billion, a PE ratio of -100.57 and a beta of 2.44. The company has a debt-to-equity ratio of 1.27, a quick ratio of 4.39 and a current ratio of 4.73. Novocure has a fifty-two week low of $26.02 and a fifty-two week high of $72.59. The company’s 50 day moving average price is $60.66.
Novocure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported ($0.13) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.13). The company had revenue of $73.31 million during the quarter, compared to the consensus estimate of $72.85 million. Novocure had a negative net margin of 20.42% and a negative return on equity of 47.23%. Novocure’s quarterly revenue was up 40.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.23) EPS. On average, research analysts forecast that Novocure will post -0.17 earnings per share for the current year.
Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.
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