NovoCure (NASDAQ:NVCR – Rating Received) Its price target was raised from $70.00 to $80.00 by Piper Sandler in a report published Tuesday morning, reports The Fly.
NVCR has been the subject of several other reports. Truist Financial lowered its price target on NovoCure shares to $102.00 from $105.00 and ranked a buy rating on the stock in a research note on Friday, October 28. StockNews.com downgraded shares of NovoCure from a hold rating to a sell rating in a research note on Tuesday, January 10th. HC Wainwright increased his price target for NovoCure shares to $140.00 from $100.00 and gave the stock a buy rating in a research report on Thursday, January 5. Wells Fargo & Company lowered shares of NovoCure from an overweight to an equal weight position in a research report on Friday, January 6, increasing its price target on the stock to $107.00 from $89.00. Finally, JPMorgan Chase & Co. increased its price target on NovoCure shares to $99.00 from $86.00 and gave the stock a neutral rating in a research report on Friday, January 6. Two analysts have rated the company’s stock with a sell rating, three with a hold rating and four with a buy rating. According to MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $110.13.
NovoCure is trading down 1.8%
NVCR stock opened at $92.26 on Tuesday. The company has a debt to equity ratio of 1.27, a quick ratio of 7.62 and a current ratio of 7.81. The company’s 50-day simple moving average is $79.67 and its 200-day simple moving average is $77.86. NovoCure has a 52-week low of $56.39 and a 52-week high of $120.03. The company has a market cap of $9.68 billion, a P/E of -119.82 and a beta of 0.78.
NovoCure (NASDAQ:NVCR – Get Rating) last released its quarterly earnings results on Thursday, October 27th. The medical equipment maker reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.05. NovoCure had a negative net margin of 15.05% and a negative return on equity of 18.85%. The company had revenue of $131.00 million for the quarter compared to the consensus estimate of $134.83 million. As a group, sell-side analysts expect NovoCure to report year-to-date EPS of -0.85.
Insider transactions at NovoCure
In other news, insider Uri Weinberg sold 8,143 shares of the stock in a transaction on Thursday, January 5th. The shares sold at an average price of $116.14 for a total value of $945,728.02. Following the closing of the transaction, the insider now owns 43,286 shares of the company, valued at $5,027,236.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed at this hyperlink. In other news, CEO Asaf Danziger sold 212,500 shares of the stock in a transaction on Thursday, January 5th. The shares were sold at an average price of $108.74 for a total value of $23,107,250.00. Upon completion of the transaction, the Chief Executive Officer now owns 13,583 shares of the Company, valued at $1,477,015.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed at this hyperlink. Also, insider Uri Weinberg sold 8,143 shares of the stock in a transaction on Thursday, January 5th. The stock sold at an average price of $116.14 for a total transaction of $945,728.02. Upon closing of the transaction, the insider now directly owns 43,286 shares of the company’s stock valued at approximately $5,027,236.04. The disclosure for this sale can be found here. Company insiders own 6.22% of the company’s shares.
Institutional inflows and outflows
A number of institutional investors and hedge funds recently changed their positions in the stock. Vanguard Group Inc. increased its holdings in NovoCure stock by 1.6% in the third quarter. Vanguard Group Inc. now owns 8,238,835 shares of the medical device maker valued at $625,986,000 after purchasing an additional 129,096 shares last quarter. BlackRock Inc. increased its stake in NovoCure by 0.6% in the third quarter. BlackRock Inc. now owns 7,379,945 shares of the medical device maker valued at $560,727,000 after purchasing an additional 46,794 shares during the period. Price T Rowe Associates Inc. MD increased its stake in NovoCure shares by 1.7% in the third quarter. Price T. Rowe Associates Inc. MD now owns 2,371,986 shares of the medical device company valued at $180,225,000 after purchasing an additional 40,619 shares during the period. Northern Trust Corp increased its stake in NovoCure by 0.5% in the first quarter. Northern Trust Corp now owns 637,237 shares of the medical equipment maker worth $52,795,000 after purchasing an additional 3,006 shares during the period. Finally, Legal & General Group Plc increased its stake in NovoCure shares by 9.1% in the second quarter. Legal & General Group Plc now owns 574,966 shares of the medical equipment maker valued at $39,960,000 after purchasing an additional 48,051 shares during the period. Institutional investors own 78.42% of the company’s shares.
About NovoCure
(get rating)
NovoCure Limited, an oncology company, is engaged in the development, manufacture and marketing of TTFields (Tumor Treating Fields) devices for the treatment of solid tumors in the United States, Europe, the Middle East, Africa, Japan and Greater China. Its TTFields devices include Optune for the treatment of glioblastoma; and Optune Lua for the treatment of malignant pleural mesothelioma.
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