NovoCure (NASDAQ:NVCR) Given New $18.00 Price Target at Evercore ISI

NovoCure (NASDAQ:NVCR) had its target price lowered by Evercore ISI from $21.00 to $18.00 in a report published on Tuesday, Benzinga reports. Evercore ISI currently has an in-line rating on the medical equipment provider’s stock.

Other research analysts also recently issued research reports about the stock. Wedbush reaffirmed an outperform rating and issued a $24.00 price target on shares of NovoCure in a research note on Thursday, July 25th. HC Wainwright upped their target price on shares of NovoCure from $22.00 to $24.00 and gave the stock a neutral rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company decreased their price target on shares of NovoCure from $42.00 to $40.00 and set an overweight rating for the company in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, NovoCure presently has a consensus rating of Hold and an average target price of $25.17.

NovoCure Trading Down 6.2 %

Shares of NASDAQ NVCR opened at $14.54 on Tuesday. The stock has a market capitalization of $1.56 billion, a P/E ratio of -8.03 and a beta of 0.71. NovoCure has a 1-year low of $10.87 and a 1-year high of $24.74. The business’s 50 day moving average is $18.07 and its two-hundred day moving average is $17.59. The company has a debt-to-equity ratio of 1.81, a current ratio of 6.46 and a quick ratio of 6.22.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.09. The firm had revenue of $150.40 million during the quarter, compared to analyst estimates of $135.83 million. NovoCure had a negative net margin of 30.67% and a negative return on equity of 45.68%. The business’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.54) EPS. As a group, research analysts expect that NovoCure will post -1.34 EPS for the current year.

Institutional Trading of NovoCure

Several large investors have recently made changes to their positions in NVCR. Vanguard Group Inc. raised its stake in shares of NovoCure by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 10,023,981 shares of the medical equipment provider’s stock valued at $156,675,000 after buying an additional 264,883 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in NovoCure by 5.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,378,940 shares of the medical equipment provider’s stock worth $37,184,000 after acquiring an additional 125,715 shares during the period. Norges Bank purchased a new position in NovoCure during the fourth quarter valued at approximately $14,543,000. Renaissance Technologies LLC lifted its holdings in NovoCure by 171.9% in the second quarter. Renaissance Technologies LLC now owns 760,175 shares of the medical equipment provider’s stock valued at $13,022,000 after acquiring an additional 480,600 shares during the period. Finally, Federated Hermes Inc. boosted its position in NovoCure by 5.8% in the 2nd quarter. Federated Hermes Inc. now owns 742,927 shares of the medical equipment provider’s stock worth $12,726,000 after purchasing an additional 40,870 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

About NovoCure

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company’s TTFields devices include Optune Gio and Optune Lua.