Novocure (NASDAQ:NVCR) had its target price boosted by Piper Sandler from $85.00 to $89.00 in a report issued on Thursday morning, The Fly reports.
A number of other research firms also recently issued reports on NVCR. SunTrust Banks dropped their price objective on shares of Novocure from $105.00 to $90.00 and set a buy rating for the company in a report on Friday, May 1st. Zacks Investment Research raised shares of Novocure from a sell rating to a hold rating in a report on Thursday, July 2nd. Wells Fargo & Co dropped their price objective on shares of Novocure from $90.00 to $82.00 and set an overweight rating for the company in a report on Tuesday, April 7th. ValuEngine raised shares of Novocure from a hold rating to a buy rating in a research note on Tuesday, July 28th. Finally, Oppenheimer assumed coverage on shares of Novocure in a research note on Monday, June 1st. They issued a buy rating for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Novocure has a consensus rating of Hold and a consensus price target of $78.67.
Shares of NVCR traded down $0.38 during mid-day trading on Thursday, reaching $75.79. 1,090,909 shares of the stock traded hands, compared to its average volume of 773,690. The firm has a fifty day moving average price of $62.85 and a 200 day moving average price of $70.96. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 631.64 and a beta of 1.54. The company has a current ratio of 5.49, a quick ratio of 5.22 and a debt-to-equity ratio of 0.67. Novocure has a 1 year low of $53.40 and a 1 year high of $98.84.
In related 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 transaction of $71,134.72. Following the sale, the insider now directly owns 103,026 shares in the company, valued at $6,189,802.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman William F. Doyle sold 29,881 shares of Novocure stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $64.27, for a total value of $1,920,451.87. Following the sale, the chairman now owns 628,047 shares in the company, valued at $40,364,580.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,480 shares of company stock valued at $7,607,812. Insiders own 5.07% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hudock Inc. bought a new stake in shares of Novocure during the first quarter valued at approximately $26,000. Wealthcare Advisory Partners LLC boosted its position in shares of Novocure by 60.4% during the first quarter. Wealthcare Advisory Partners LLC now owns 417 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 157 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Novocure by 229.5% during the first quarter. First Horizon Advisors Inc. now owns 435 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 303 shares during the last quarter. Fifth Third Bancorp raised its stake in Novocure by 15.7% during the first quarter. Fifth Third Bancorp now owns 1,163 shares of the medical equipment provider’s stock valued at $78,000 after buying an additional 158 shares during the last quarter. Finally, Arden Trust Co purchased a new position in Novocure during the first quarter valued at $103,000. Institutional investors own 69.14% 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.
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