NovoCure (NASDAQ:NVCR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NovoCure (NASDAQ:NVCR) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Several other research firms have also commented on NVCR. Zacks Research raised NovoCure from a “strong sell” rating to a “hold” rating in a research report on Friday, July 24th. HC Wainwright set a $32.00 price target on shares of NovoCure in a research report on Friday, July 24th. Wells Fargo & Company decreased their price target on shares of NovoCure from $20.00 to $15.00 and set an “equal weight” rating for the company in a research note on Friday. Wedbush raised their price objective on shares of NovoCure from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NovoCure in a research note on Thursday, August 27th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, NovoCure has an average rating of “Hold” and a consensus target price of $20.80.

NovoCure Price Performance

Shares of NovoCure stock opened at $13.21 on Friday. NovoCure has a 52 week low of $9.82 and a 52 week high of $21.45. The company has a current ratio of 2.89, a quick ratio of 2.70 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $15.71 and its two-hundred day moving average is $14.78.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, October 29th. The medical equipment provider reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.14. The firm had revenue of $193.40 million during the quarter, compared to analysts’ expectations of $182.28 million. NovoCure had a negative net margin of 21.25% and a negative return on equity of 44.00%. NovoCure’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.33) earnings per share. On average, analysts predict that NovoCure will post -1.20 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NovoCure

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Elevation Wealth Partners LLC lifted its stake in shares of NovoCure by 196.4% in the third quarter. Elevation Wealth Partners LLC now owns 1,731 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 1,147 shares during the period. First Bancorp Inc ME purchased a new stake in shares of NovoCure in the second quarter valued at $38,000. Allworth Financial LP lifted its position in shares of NovoCure by 182.0% in the second quarter. Allworth Financial LP now owns 2,721 shares of the medical equipment provider’s stock valued at $41,000 after acquiring an additional 1,756 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of NovoCure by 591.6% in the third quarter. Sterling Capital Management LLC now owns 3,458 shares of the medical equipment provider’s stock valued at $55,000 after acquiring an additional 2,958 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of NovoCure during the second quarter valued at $84,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

NovoCure Company Profile

NovoCure Ltd. (NASDAQ: NVCR) is an oncology company that develops and commercializes therapies based on Tumor Treating Fields (TTFields), low-intensity electric fields designed to disrupt the division of cancer cells. Its treatments are delivered through portable, wearable devices used alongside other cancer therapies.

The company’s principal products include Optune Gio for certain adults with glioblastoma and Optune Lua for adults with unresectable, locally advanced or metastatic pleural mesothelioma and certain forms of metastatic non-small cell lung cancer.