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

NovoCure (NASDAQ:NVCR) had its price target raised by research analysts at Wedbush from $18.00 to $20.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical equipment provider’s stock. Wedbush’s price objective indicates a potential upside of 0.05% from the company’s previous close.

NVCR has been the subject of a number of other research reports. Evercore reaffirmed an “outperform” rating on shares of NovoCure in a research report on Friday, May 1st. Zacks Research lowered NovoCure from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Wells Fargo & Company upped their price objective on NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Weiss Ratings upgraded shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. Finally, JPMorgan Chase & Co. began coverage on shares of NovoCure in a report on Monday, July 13th. They issued a “neutral” rating and a $17.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $25.20.

NovoCure Stock Performance

Shares of NovoCure stock opened at $19.99 on Friday. NovoCure has a 12 month low of $9.82 and a 12 month high of $20.55. The company has a current ratio of 2.90, a quick ratio of 2.70 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $2.32 billion, a PE ratio of -13.07 and a beta of 0.94. The stock’s fifty day simple moving average is $16.64 and its 200 day simple moving average is $14.12.

NovoCure (NASDAQ:NVCR) last posted its earnings results on Thursday, July 23rd. The medical equipment provider reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.20. NovoCure had a negative return on equity of 50.82% and a negative net margin of 25.66%.The business had revenue of $183.58 million during the quarter, compared to analysts’ expectations of $172.44 million. During the same period in the prior year, the business earned ($0.36) EPS. NovoCure’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, research analysts predict that NovoCure will post -1.52 EPS for the current year.

Insiders Place Their Bets

In other NovoCure news, Director Timothy J. Scannell sold 2,945 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total transaction of $46,442.65. Following the transaction, the director owned 14,288 shares in the company, valued at $225,321.76. This trade represents a 17.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director W Anthony Vernon sold 2,945 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $15.77, for a total value of $46,442.65. Following the completion of the transaction, the director owned 197,657 shares in the company, valued at $3,117,050.89. The trade was a 1.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 51,943 shares of company stock valued at $893,171 in the last three months. Insiders own 5.52% of the company’s stock.

Institutional Investors Weigh In On NovoCure

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVCR. AQR Capital Management LLC lifted its position in shares of NovoCure by 56.7% during the 1st quarter. AQR Capital Management LLC now owns 28,728 shares of the medical equipment provider’s stock worth $512,000 after buying an additional 10,394 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in NovoCure by 3.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,992 shares of the medical equipment provider’s stock valued at $1,336,000 after buying an additional 2,502 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of NovoCure by 5.5% during the first quarter. Goldman Sachs Group Inc. now owns 993,670 shares of the medical equipment provider’s stock worth $17,707,000 after buying an additional 52,180 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of NovoCure in the 1st quarter valued at $87,000. Finally, Prudential Financial Inc. acquired a new stake in shares of NovoCure during the 2nd quarter valued at $216,000. 84.61% of the stock is currently owned by institutional investors.

Key Stories Impacting NovoCure

Here are the key news stories impacting NovoCure this week:

• Positive Sentiment: NovoCure reported Q2 EPS of -$0.13, topping the consensus estimate of -$0.33, while revenue of $183.58 million also beat expectations and rose 15.6% year over year.
• Positive Sentiment: The company raised FY 2026 revenue guidance to $710 million-$725 million, above the prior Street estimate, signaling improving business momentum.
• Positive Sentiment: Investor enthusiasm increased around potential FDA approval for the company’s brain therapy candidate, which added to the bullish outlook and helped drive the stock to a record high. Novocure (NVCR) Hits New High on Optimistic Outlook, FDA Approval Hopes
• Positive Sentiment: HC Wainwright kept a Buy rating and raised its price target to $52, which suggests Wall Street still sees substantial upside from current levels.
• Neutral Sentiment: HC Wainwright trimmed its FY2029 EPS forecast slightly to $1.90 from $1.95, a modest revision that does not appear to have changed the firm’s constructive stance.

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.