Novocure (NVCR) Raised to “Strong-Buy” at BidaskClub
BidaskClub upgraded shares of Novocure (NASDAQ:NVCR) from a buy rating to a strong-buy rating in a report issued on Friday morning.
Other research analysts have also issued research reports about the company. Mizuho reiterated a buy rating and issued a $58.00 price target on shares of Novocure in a report on Friday, October 19th. ValuEngine lowered Novocure from a buy rating to a hold rating in a report on Friday, November 2nd. Zacks Investment Research lowered Novocure from a hold rating to a sell rating in a report on Saturday, December 29th. Wedbush increased their price target on Novocure from $55.00 to $58.00 and gave the stock an outperform rating in a report on Friday, October 26th. Finally, Wells Fargo & Co lowered Novocure from an outperform rating to a market perform rating in a report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $48.00.
Shares of NASDAQ:NVCR opened at $48.20 on Friday. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of -68.86 and a beta of 2.86. The company has a debt-to-equity ratio of 1.30, a quick ratio of 5.72 and a current ratio of 6.17. Novocure has a 52-week low of $19.20 and a 52-week high of $53.70.
Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in shares of Novocure by 29.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the medical equipment provider’s stock valued at $74,000 after purchasing an additional 500 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Novocure in the third quarter valued at approximately $210,000. Evercore Wealth Management LLC bought a new position in shares of Novocure in the third quarter valued at approximately $220,000. Strategic Financial Services Inc bought a new position in shares of Novocure in the third quarter valued at approximately $262,000. Finally, Private Advisor Group LLC bought a new position in shares of Novocure in the third quarter valued at approximately $316,000. Institutional investors own 58.50% of the company’s stock.
Novocure Company Profile
Novocure Ltd. operates as an oncology company. It enages in developing its propriety technoclogy, Tumor Treating Fields, which uses electric fields tuned to specific frequencies to disrupt cancer cell division, inhibiting tumor growth, and causing affected cancer cells to die. The company was founded by Yoram Palti in 2000 and is headquartered in St.
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