NovoCure (NASDAQ:NVCR) Downgraded to “Sell” Rating by StockNews.com

NovoCure (NASDAQ:NVCR) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

A number of other research firms have also issued reports on NVCR. Piper Sandler upped their target price on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. HC Wainwright reiterated a “buy” rating and set a $38.00 price target on shares of NovoCure in a report on Tuesday, January 14th. Wedbush reissued a “neutral” rating and issued a $29.00 price objective on shares of NovoCure in a report on Monday, January 13th. Finally, Evercore ISI raised shares of NovoCure from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $18.00 to $30.00 in a research note on Monday, December 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.67.

NovoCure Price Performance

Shares of NVCR stock traded down $0.66 during trading hours on Monday, hitting $18.41. 1,524,763 shares of the company’s stock were exchanged, compared to its average volume of 1,242,091. The firm has a market cap of $1.99 billion, a P/E ratio of -13.15 and a beta of 0.62. The firm has a 50 day moving average of $25.33 and a two-hundred day moving average of $21.46. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. NovoCure has a fifty-two week low of $11.70 and a fifty-two week high of $34.13.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, February 27th. The medical equipment provider reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.27). The company had revenue of $161.27 million during the quarter, compared to analysts’ expectations of $161.30 million. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. Sell-side analysts forecast that NovoCure will post -1.3 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NVCR. Mackenzie Financial Corp purchased a new position in shares of NovoCure during the 4th quarter worth approximately $203,000. GF Fund Management CO. LTD. acquired a new position in NovoCure during the fourth quarter worth $68,000. Soleus Capital Management L.P. acquired a new position in NovoCure during the fourth quarter worth $81,643,000. Teza Capital Management LLC boosted its position in shares of NovoCure by 573.0% during the fourth quarter. Teza Capital Management LLC now owns 100,200 shares of the medical equipment provider’s stock worth $2,986,000 after buying an additional 85,312 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of NovoCure by 264.6% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,901 shares of the medical equipment provider’s stock valued at $206,000 after buying an additional 5,008 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

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.