NovoCure (NASDAQ:NVCR) Raised to Outperform at Evercore ISI

NovoCure (NASDAQ:NVCR) was upgraded by investment analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a note issued to investors on Monday, Marketbeat.com reports. The firm currently has a $30.00 price target on the medical equipment provider’s stock, up from their previous price target of $18.00. Evercore ISI’s target price points to a potential upside of 49.70% from the company’s current price.

Separately, HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of NovoCure in a research note on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.17.

NovoCure Stock Up 1.8 %

NASDAQ:NVCR opened at $20.04 on Monday. The stock has a 50-day simple moving average of $16.65 and a 200 day simple moving average of $18.39. NovoCure has a 52-week low of $11.66 and a 52-week high of $24.74. The company has a market cap of $2.17 billion, a PE ratio of -14.31 and a beta of 0.71. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49.

NovoCure (NASDAQ:NVCR) last released its quarterly earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The firm had revenue of $155.10 million during the quarter, compared to the consensus estimate of $143.95 million. During the same quarter in the prior year, the firm posted ($0.46) EPS. The business’s revenue was up 21.8% on a year-over-year basis. On average, sell-side analysts expect that NovoCure will post -1.31 EPS for the current fiscal year.

Institutional Investors Weigh In On NovoCure

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lombard Odier Asset Management USA Corp grew its stake in shares of NovoCure by 5.4% in the second quarter. Lombard Odier Asset Management USA Corp now owns 10,862 shares of the medical equipment provider’s stock valued at $186,000 after buying an additional 557 shares in the last quarter. Arizona State Retirement System lifted its stake in NovoCure by 2.1% in the second quarter. Arizona State Retirement System now owns 28,481 shares of the medical equipment provider’s stock valued at $488,000 after acquiring an additional 581 shares during the last quarter. Signaturefd LLC lifted its stake in NovoCure by 61.7% in the second quarter. Signaturefd LLC now owns 1,644 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 627 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of NovoCure by 21.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock valued at $61,000 after acquiring an additional 701 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of NovoCure by 58.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock worth $57,000 after purchasing an additional 1,354 shares during the last quarter. Institutional investors own 84.61% of the company’s stock.

NovoCure Company Profile

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.