Novocure (NASDAQ:NVCR) Stock Rating Reaffirmed by JPMorgan Chase & Co.

Novocure (NASDAQ:NVCR)‘s stock had its “hold” rating restated by analysts at JPMorgan Chase & Co. in a report released on Tuesday, AnalystRatings.com reports.

Other equities research analysts have also issued research reports about the stock. Mizuho reiterated a “buy” rating and issued a $91.00 price objective on shares of Novocure in a research note on Tuesday, January 7th. Zacks Investment Research lowered shares of Novocure from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. ValuEngine lowered shares of Novocure from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BidaskClub lowered shares of Novocure from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Co increased their price objective on shares of Novocure from $75.00 to $85.00 in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Novocure currently has an average rating of “Hold” and a consensus price target of $80.14.

NASDAQ:NVCR traded up $7.52 on Tuesday, hitting $91.91. The stock had a trading volume of 957,127 shares, compared to its average volume of 881,145. The company has a debt-to-equity ratio of 0.84, a quick ratio of 4.76 and a current ratio of 5.06. The stock has a market cap of $8.80 billion, a P/E ratio of -133.20 and a beta of 2.37. Novocure has a 1 year low of $41.51 and a 1 year high of $98.70. The firm’s fifty day simple moving average is $84.01 and its two-hundred day simple moving average is $80.34.

Novocure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, October 31st. The medical equipment provider reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.07. The firm had revenue of $92.06 million during the quarter, compared to analyst estimates of $87.12 million. Novocure had a negative net margin of 8.43% and a negative return on equity of 18.45%. The company’s revenue for the quarter was up 42.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.13) EPS. Equities research analysts predict that Novocure will post -0.13 EPS for the current year.

In related news, Director Charles G. Phillips III sold 6,145 shares of Novocure stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $88.11, for a total value of $541,435.95. Following the completion of the transaction, the director now directly owns 3,359 shares in the company, valued at approximately $295,961.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Asaf Danziger sold 103,000 shares of Novocure stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $95.00, for a total transaction of $9,785,000.00. Following the completion of the transaction, the chief executive officer now owns 237,601 shares of the company’s stock, valued at $22,572,095. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 512,977 shares of company stock valued at $45,409,691. 5.60% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Legacy Bridge LLC grew its stake in Novocure by 666.7% in the 3rd quarter. Legacy Bridge LLC now owns 460 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 400 shares in the last quarter. Point72 Hong Kong Ltd grew its stake in Novocure by 1,337.1% in the 2nd quarter. Point72 Hong Kong Ltd now owns 503 shares of the medical equipment provider’s stock valued at $32,000 after buying an additional 468 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Novocure in the 3rd quarter valued at approximately $48,000. Princeton Global Asset Management LLC purchased a new position in Novocure in the 2nd quarter valued at approximately $63,000. Finally, First Mercantile Trust Co. purchased a new position in Novocure in the 3rd quarter valued at approximately $83,000. Institutional investors and hedge funds own 66.55% of the company’s stock.

Novocure Company Profile

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.

Recommended Story: How prevalent are 12b-1 fees?

Analyst Recommendations for Novocure (NASDAQ:NVCR)

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.