Novocure’s (NVCR) Buy Rating Reaffirmed at Mizuho

Mizuho reissued their buy rating on shares of Novocure (NASDAQ:NVCR) in a report issued on Thursday morning. They currently have a $51.00 price objective on the medical equipment provider’s stock.

“We highlight a few key slides in the attachment. Notable points of discussions during the event revolved around potential indications for Optune in China, regulatory approval pathway and pricing dynamics. We have not taken into account the China opportunity in our model but assuming approval sometime in 2020, this could represent additional upside to our revenue forecast.”,” the firm’s analyst commented.

A number of other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. reiterated a buy rating on shares of Novocure in a report on Sunday, September 16th. BidaskClub upgraded Novocure from a buy rating to a strong-buy rating in a research report on Thursday, August 16th. Zacks Investment Research lowered Novocure from a hold rating to a sell rating in a research report on Thursday, September 27th. Wells Fargo & Co boosted their price objective on Novocure from $53.00 to $58.00 and gave the company a positive rating in a research report on Wednesday, September 19th. Finally, Wedbush restated an outperform rating and set a $40.00 price objective (down previously from $50.00) on shares of Novocure in a research report on Friday, September 7th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Novocure presently has an average rating of Hold and a consensus price target of $48.00.

Shares of NASDAQ NVCR opened at $31.53 on Thursday. Novocure has a twelve month low of $18.00 and a twelve month high of $53.70. The company has a quick ratio of 5.72, a current ratio of 6.17 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $2.93 billion, a PE ratio of -45.04 and a beta of 3.74.

Novocure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, October 25th. The medical equipment provider reported ($0.13) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.02. Novocure had a negative return on equity of 52.72% and a negative net margin of 25.37%. The business had revenue of $64.76 million during the quarter, compared to the consensus estimate of $65.61 million. On average, equities analysts forecast that Novocure will post -0.68 EPS for the current year.

In other Novocure news, insider Yoram Palti sold 25,666 shares of the business’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $40.03, for a total transaction of $1,027,409.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Wilhelmus Cm Groenhuysen sold 35,547 shares of the business’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $40.01, for a total value of $1,422,235.47. Following the transaction, the chief financial officer now owns 47,397 shares of the company’s stock, valued at approximately $1,896,353.97. The disclosure for this sale can be found here. Insiders have sold a total of 130,182 shares of company stock valued at $5,135,758 in the last 90 days. Insiders own 15.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Oppenheimer & Co. Inc. acquired a new position in Novocure during the 3rd quarter worth $210,000. Evercore Wealth Management LLC acquired a new position in Novocure during the 3rd quarter worth $220,000. Envestnet Asset Management Inc. acquired a new position in Novocure during the 2nd quarter worth $135,000. Strategic Financial Services Inc acquired a new position in Novocure during the 3rd quarter worth $262,000. Finally, CWM LLC acquired a new position in Novocure during the 2nd quarter worth $163,000. Institutional investors own 57.26% of the company’s stock.

About Novocure

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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