Novocure (NVCR) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Novocure (NASDAQ:NVCR) from a hold rating to a buy rating in a report published on Saturday.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Novocure from a hold rating to a buy rating and set a $22.00 price objective for the company in a research report on Tuesday, October 31st. Mizuho restated a buy rating and set a $25.00 price objective on shares of Novocure in a research report on Friday, December 1st. JPMorgan Chase & Co. restated a buy rating on shares of Novocure in a research report on Monday, November 20th. ValuEngine upgraded shares of Novocure from a sell rating to a hold rating in a research report on Sunday, December 31st. Finally, Wedbush restated an outperform rating and set a $25.00 price objective (down previously from $29.00) on shares of Novocure in a research report on Friday, October 27th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $21.13.

Shares of Novocure (NVCR) opened at $21.70 on Friday. Novocure has a 12-month low of $6.00 and a 12-month high of $22.90. The company has a market cap of $1,939.19, a price-to-earnings ratio of -25.83 and a beta of 4.02. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.90 and a quick ratio of 5.30.

Novocure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.07. Novocure had a negative net margin of 47.45% and a negative return on equity of 57.68%. The firm had revenue of $50.10 million during the quarter, compared to the consensus estimate of $43.45 million. During the same quarter in the prior year, the firm earned ($0.39) EPS. Novocure’s revenue for the quarter was up 130.9% on a year-over-year basis. equities analysts forecast that Novocure will post -0.65 earnings per share for the current year.

In other news, insider Eilon D. Kirson sold 22,269 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $22.01, for a total transaction of $490,140.69. Following the transaction, the insider now directly owns 63,120 shares of the company’s stock, valued at approximately $1,389,271.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Asaf Danziger sold 15,866 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $22.01, for a total transaction of $349,210.66. Following the transaction, the chief executive officer now directly owns 774,040 shares in the company, valued at $17,036,620.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 286,281 shares of company stock valued at $5,918,695. 16.70% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of NVCR. Crow Point Partners LLC acquired a new position in shares of Novocure during the 4th quarter worth $120,000. BNP Paribas Arbitrage SA grew its stake in shares of Novocure by 792.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,229 shares of the medical equipment provider’s stock worth $125,000 after purchasing an additional 6,419 shares during the period. Trexquant Investment LP acquired a new position in shares of Novocure during the 3rd quarter worth $212,000. Legal & General Group Plc grew its stake in shares of Novocure by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 13,866 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 1,092 shares during the period. Finally, TIAA FSB acquired a new position in shares of Novocure during the 2nd quarter worth $238,000. 41.53% of the stock is currently owned by institutional investors and hedge funds.

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Novocure Company Profile

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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