ValuEngine lowered shares of Novocure (NASDAQ:NVCR) from a strong-buy rating to a buy rating in a research report sent to investors on Friday morning.

A number of other research firms have also issued reports on NVCR. Wells Fargo & Co upped their target price on shares of Novocure from $40.00 to $48.00 and gave the stock an outperform rating in a report on Thursday, September 6th. BidaskClub raised shares of Novocure from a buy rating to a strong-buy rating in a report on Thursday, August 16th. Wedbush reaffirmed an outperform rating and set a $40.00 target price (down previously from $50.00) on shares of Novocure in a report on Friday, September 7th. Mizuho reaffirmed a buy rating and set a $58.00 target price on shares of Novocure in a report on Thursday, September 6th. Finally, JPMorgan Chase & Co. reissued a buy rating on shares of Novocure in a research report on Sunday, September 16th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $49.57.

Shares of Novocure stock traded down $2.34 during trading hours on Friday, reaching $42.70. 667,793 shares of the company’s stock were exchanged, compared to its average volume of 773,040. Novocure has a 1 year low of $16.90 and a 1 year high of $53.70. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of -61.00 and a beta of 3.30. The company has a quick ratio of 5.97, a current ratio of 6.41 and a debt-to-equity ratio of 1.33.

Novocure (NASDAQ:NVCR) last released its earnings results on Thursday, July 26th. The medical equipment provider reported ($0.17) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.01). Novocure had a negative return on equity of 52.34% and a negative net margin of 26.99%. The business had revenue of $61.50 million for the quarter, compared to analysts’ expectations of $59.53 million. The firm’s revenue for the quarter was up 60.2% compared to the same quarter last year. On average, research analysts anticipate that Novocure will post -0.7 EPS for the current fiscal year.

In other news, CTO Yoram Palti sold 12,216 shares of the business’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $40.00, for a total transaction of $488,640.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Wilhelmus Cm Groenhuysen sold 62,727 shares of the business’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $35.08, for a total transaction of $2,200,463.16. Following the transaction, the chief financial officer now directly owns 175,602 shares in the company, valued at approximately $6,160,118.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 198,518 shares of company stock worth $7,543,993. Corporate insiders own 15.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada lifted its position in Novocure by 6.5% in the first quarter. Royal Bank of Canada now owns 115,102 shares of the medical equipment provider’s stock valued at $2,509,000 after buying an additional 7,067 shares during the last quarter. Principal Financial Group Inc. lifted its position in Novocure by 10.1% in the first quarter. Principal Financial Group Inc. now owns 44,849 shares of the medical equipment provider’s stock valued at $978,000 after buying an additional 4,106 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Novocure in the second quarter valued at about $643,000. Bank of Montreal Can lifted its position in Novocure by 32.7% in the second quarter. Bank of Montreal Can now owns 9,379 shares of the medical equipment provider’s stock valued at $293,000 after buying an additional 2,310 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Novocure by 1,058.5% in the second quarter. SG Americas Securities LLC now owns 68,455 shares of the medical equipment provider’s stock valued at $2,143,000 after buying an additional 62,546 shares during the last quarter. 56.03% of the stock is currently owned by hedge funds and other institutional investors.

Novocure Company Profile

NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.

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Analyst Recommendations for Novocure (NASDAQ:NVCR)

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