Mizuho Increases Novocure (NASDAQ:NVCR) Price Target to $84.00

Novocure (NASDAQ:NVCR) had its price target raised by equities research analysts at Mizuho from $82.00 to $84.00 in a research note issued to investors on Friday, The Fly reports. The firm presently has a “buy” rating on the medical equipment provider’s stock. Mizuho’s target price would suggest a potential upside of 10.83% from the company’s current price.

NVCR has been the topic of a number of other research reports. Oppenheimer reiterated a “hold” rating on shares of Novocure in a research report on Thursday. Wells Fargo & Co cut their target price on Novocure from $90.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 7th. SunTrust Banks lowered their price target on Novocure from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, May 1st. ValuEngine raised Novocure from a “hold” rating to a “buy” rating in a report on Tuesday, July 28th. Finally, Piper Sandler raised their price target on Novocure from $85.00 to $89.00 in a report on Thursday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $78.67.

Novocure stock traded down $0.38 during midday trading on Friday, reaching $75.79. The company’s stock had a trading volume of 1,090,909 shares, compared to its average volume of 773,690. The business has a 50-day simple moving average of $62.85 and a 200-day simple moving average of $70.96. The company has a quick ratio of 5.22, a current ratio of 5.49 and a debt-to-equity ratio of 0.67. Novocure has a fifty-two week low of $53.40 and a fifty-two week high of $98.84. The company has a market cap of $7.61 billion, a P/E ratio of 631.64 and a beta of 1.54.

Novocure (NASDAQ:NVCR) last posted its earnings results on Thursday, July 30th. The medical equipment provider reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. Novocure had a return on equity of 5.44% and a net margin of 2.88%. The business had revenue of $115.90 million for the quarter, compared to analysts’ expectations of $105.96 million. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. The business’s revenue was up 33.7% compared to the same quarter last year. As a group, equities analysts forecast that Novocure will post 0.11 earnings per share for the current year.

In other Novocure news, insider Pritesh Shah sold 1,184 shares of Novocure stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $60.08, for a total value of $71,134.72. Following the sale, the insider now owns 103,026 shares of the company’s stock, valued at approximately $6,189,802.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ely Benaim sold 1,611 shares of Novocure stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $63.73, for a total value of $102,669.03. Following the completion of the sale, the insider now directly owns 16,822 shares in the company, valued at approximately $1,072,066.06. The disclosure for this sale can be found here. Insiders sold a total of 116,480 shares of company stock worth $7,607,812 in the last ninety days. 5.07% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Hudock Inc. acquired a new stake in shares of Novocure during the 1st quarter valued at approximately $26,000. Wealthcare Advisory Partners LLC lifted its position in shares of Novocure by 60.4% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 417 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 157 shares during the period. First Horizon Advisors Inc. lifted its position in shares of Novocure by 229.5% during the 1st quarter. First Horizon Advisors Inc. now owns 435 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 303 shares during the period. Fifth Third Bancorp lifted its position in shares of Novocure by 15.7% during the 1st quarter. Fifth Third Bancorp now owns 1,163 shares of the medical equipment provider’s stock valued at $78,000 after acquiring an additional 158 shares during the period. Finally, Arden Trust Co acquired a new stake in shares of Novocure during the 1st quarter valued at approximately $103,000. Institutional investors own 69.14% of the company’s stock.

About Novocure

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.

Further Reading: Average Daily Trade Volume – What You Need to Know

The Fly

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.