NVCR has been the topic of several other reports. Wedbush set a $79.00 price objective on Aimmune Therapeutics and gave the company a buy rating in a research note on Friday, May 24th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Novocure in a research note on Sunday, May 26th. Zacks Investment Research lowered Granite Point Mortgage Trust from a buy rating to a hold rating in a research note on Tuesday, March 19th. Oppenheimer began coverage on Novocure in a research note on Friday, June 28th. They issued an outperform rating and a $75.00 price objective on the stock. Finally, SunTrust Banks began coverage on Zoetis in a research note on Tuesday, March 19th. They issued a hold rating and a $100.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $52.44.
NASDAQ NVCR opened at $68.69 on Friday. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of -99.55 and a beta of 2.45. Novocure has a 1-year low of $26.02 and a 1-year high of $69.75. The company has a quick ratio of 4.39, a current ratio of 4.73 and a debt-to-equity ratio of 1.27. The company has a 50-day moving average price of $59.37.
In related news, Chairman William F. Doyle sold 29,966 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $45.21, for a total transaction of $1,354,762.86. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Pritesh Shah sold 1,204 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $43.80, for a total value of $52,735.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 846,470 shares of company stock worth $48,223,770. Company insiders own 5.60% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Strategic Financial Services Inc purchased a new stake in shares of Novocure during the 1st quarter valued at about $207,000. BlackRock Inc. increased its holdings in Novocure by 1.0% during the 4th quarter. BlackRock Inc. now owns 4,796,688 shares of the medical equipment provider’s stock worth $160,592,000 after purchasing an additional 46,754 shares during the last quarter. LPL Financial LLC purchased a new stake in Novocure during the 4th quarter worth approximately $461,000. PRW Wealth Management LLC purchased a new stake in Novocure during the 4th quarter worth approximately $36,000. Finally, Van ECK Associates Corp increased its holdings in Novocure by 17.6% during the 4th quarter. Van ECK Associates Corp now owns 22,359 shares of the medical equipment provider’s stock worth $749,000 after purchasing an additional 3,345 shares during the last quarter. Institutional investors and hedge funds own 65.34% of the company’s stock.
Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline.
Read More: Capital Gains
Receive News & Ratings for Novocure Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novocure and related companies with MarketBeat.com's FREE daily email newsletter.