Novocure (NVCR) Lowered to Sell at Zacks Investment Research

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Novocure (NASDAQ:NVCR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “NovoCure Limited is an oncology company. The Company is engaged in developing a therapy called Tumor Treating Fields for the treatment of solid tumor cancers. It operates primarily in the United States, Germany, Switzerland and Japan. NovoCure Limited is based in Saint Helier, Channel Islands. “

A number of other research analysts also recently issued reports on NVCR. BidaskClub downgraded shares of Novocure from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 6th. Mizuho restated a “buy” rating and set a $63.00 target price on shares of Novocure in a research report on Thursday, March 7th. Wells Fargo & Co restated a “hold” rating on shares of Novocure in a research report on Thursday, February 28th. Finally, ValuEngine upgraded shares of Novocure from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $49.71.

Shares of NASDAQ:NVCR opened at $51.43 on Wednesday. The firm has a market capitalization of $4.85 billion, a PE ratio of -73.47 and a beta of 3.24. The company has a debt-to-equity ratio of 1.33, a quick ratio of 4.63 and a current ratio of 4.98. Novocure has a 52 week low of $19.55 and a 52 week high of $56.67.

Novocure (NASDAQ:NVCR) last released its earnings results on Thursday, February 28th. The medical equipment provider reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Novocure had a negative net margin of 25.62% and a negative return on equity of 57.09%. On average, sell-side analysts forecast that Novocure will post -0.67 EPS for the current year.

In other news, Director Gabriel Leung sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $48.31, for a total transaction of $241,550.00. Following the completion of the transaction, the director now directly owns 65,000 shares of the company’s stock, valued at approximately $3,140,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Asaf Danziger sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $43.51, for a total transaction of $8,702,000.00. Following the transaction, the chief executive officer now directly owns 271,164 shares of the company’s stock, valued at $11,798,345.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,126,687 shares of company stock valued at $52,326,450. 15.30% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. PRW Wealth Management LLC bought a new position in shares of Novocure during the 4th quarter worth approximately $36,000. NumerixS Investment Technologies Inc bought a new position in shares of Novocure during the 4th quarter worth approximately $59,000. QS Investors LLC bought a new position in shares of Novocure during the 4th quarter worth approximately $70,000. Nisa Investment Advisors LLC grew its stake in shares of Novocure by 29.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the medical equipment provider’s stock worth $74,000 after acquiring an additional 500 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Novocure during the 4th quarter worth approximately $142,000. 61.47% of the stock is owned by institutional investors.

Novocure Company Profile

Novocure Ltd. operates as an oncology company. It enages in developing its propriety technoclogy, Tumor Treating Fields, which uses electric fields tuned to specific frequencies to disrupt cancer cell division, inhibiting tumor growth, and causing affected cancer cells to die. The company was founded by Yoram Palti in 2000 and is headquartered in St.

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