NovoCure (NVCR) Upgraded at Deutsche Bank

Deutsche Bank upgraded shares of NovoCure (NASDAQ:NVCR) from a hold rating to a buy rating in a report released on Thursday morning, MarketBeat Ratings reports. They currently have $19.00 price objective on the medical equipment provider’s stock, down from their prior price objective of $23.80.

NVCR has been the topic of a number of other reports. BidaskClub downgraded NovoCure from a hold rating to a sell rating in a research report on Thursday, February 15th. Mizuho reiterated a buy rating and issued a $28.00 target price (up from $25.00) on shares of NovoCure in a research report on Friday, February 23rd. Zacks Investment Research downgraded NovoCure from a buy rating to a hold rating in a research report on Saturday, January 13th. Finally, ValuEngine upgraded NovoCure from a sell rating to a hold rating in a research report on Sunday, December 31st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $21.33.

Shares of NovoCure stock opened at $24.65 on Thursday. NovoCure has a 52 week low of $10.50 and a 52 week high of $25.70. The stock has a market capitalization of $2,228.34, a PE ratio of -35.21 and a beta of 3.16. The company has a current ratio of 4.88, a quick ratio of 4.44 and a debt-to-equity ratio of 0.86.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings data on Thursday, February 22nd. The medical equipment provider reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.14) by $0.02. NovoCure had a negative return on equity of 51.74% and a negative net margin of 34.83%. The business had revenue of $53.66 million for the quarter, compared to the consensus estimate of $53.17 million. During the same period in the previous year, the business earned ($0.26) earnings per share. The business’s revenue was up 77.4% on a year-over-year basis. equities research analysts anticipate that NovoCure will post -0.5 EPS for the current fiscal year.

In other NovoCure news, COO Michael J. Ambrogi sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 18th. The stock was sold at an average price of $23.03, for a total transaction of $921,200.00. Following the sale, the chief operating officer now directly owns 166,558 shares of the company’s stock, valued at $3,835,830.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Yoram Palti sold 44,072 shares of the business’s stock in a transaction that occurred on Wednesday, April 18th. The stock was sold at an average price of $23.65, for a total value of $1,042,302.80. Following the sale, the insider now directly owns 116,451 shares in the company, valued at $2,754,066.15. The disclosure for this sale can be found here. Insiders sold 248,924 shares of company stock worth $5,471,491 over the last quarter. 16.70% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Elkfork Partners LLC bought a new stake in NovoCure during the fourth quarter worth approximately $225,000. Pier Capital LLC increased its stake in NovoCure by 41.0% during the fourth quarter. Pier Capital LLC now owns 385,527 shares of the medical equipment provider’s stock worth $7,788,000 after acquiring an additional 112,176 shares during the last quarter. Macquarie Group Ltd. increased its stake in NovoCure by 38.9% during the fourth quarter. Macquarie Group Ltd. now owns 70,066 shares of the medical equipment provider’s stock worth $1,415,000 after acquiring an additional 19,606 shares during the last quarter. Millennium Management LLC increased its stake in NovoCure by 27.4% during the fourth quarter. Millennium Management LLC now owns 484,569 shares of the medical equipment provider’s stock worth $9,788,000 after acquiring an additional 104,210 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in NovoCure during the fourth quarter worth approximately $2,002,000. 42.83% of the stock is currently owned by institutional investors.

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About NovoCure

NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.

Analyst Recommendations for NovoCure (NASDAQ:NVCR)

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