Novocure (NASDAQ:NVCR) Stock Rating Reaffirmed by Oppenheimer

Oppenheimer reissued their hold rating on shares of Novocure (NASDAQ:NVCR) in a report released on Thursday morning, AnalystRatings.com reports.

NVCR has been the subject of a number of other research reports. BidaskClub cut Novocure from a sell rating to a strong sell rating in a research report on Tuesday, May 5th. SunTrust Banks dropped their price objective on Novocure from $105.00 to $90.00 and set a buy rating for the company in a research report on Friday, May 1st. Wedbush lowered their price target on Novocure from $80.00 to $78.00 and set a neutral rating for the company in a report on Friday, May 1st. Evercore ISI cut Novocure from an in-line rating to an underperform rating in a report on Sunday, April 19th. Finally, Zacks Investment Research upgraded Novocure from a sell rating to a hold rating in a report on Thursday, July 2nd. 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 company. The stock currently has an average rating of Hold and a consensus price target of $78.67.

Novocure stock traded down $0.38 during midday trading on Thursday, reaching $75.79. 1,090,909 shares of the company were exchanged, compared to its average volume of 773,690. The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of 631.64 and a beta of 1.54. The firm’s 50-day simple moving average is $62.85 and its 200-day simple moving average is $70.96. Novocure has a 1 year low of $53.40 and a 1 year high of $98.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 5.22 and a current ratio of 5.49.

Novocure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, July 30th. The medical equipment provider reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $115.90 million during the quarter, compared to analysts’ expectations of $105.96 million. Novocure had a return on equity of 5.44% and a net margin of 2.88%. The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) EPS. On average, analysts forecast that Novocure will post 0.11 EPS for the current fiscal year.

In other news, insider Pritesh Shah sold 1,184 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $60.08, for a total transaction of $71,134.72. Following the completion of the sale, the insider now owns 103,026 shares in the company, valued at approximately $6,189,802.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman William F. Doyle sold 29,881 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was 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 of the company’s stock, valued at approximately $40,364,580.69. The disclosure for this sale can be found here. Insiders have sold a total of 116,480 shares of company stock valued at $7,607,812 in the last quarter. Company insiders own 5.07% of the company’s stock.

Several large investors have recently modified their holdings of the company. Capital International Investors grew its holdings in shares of Novocure by 85.1% during the 1st quarter. Capital International Investors now owns 2,555,725 shares of the medical equipment provider’s stock worth $172,103,000 after purchasing an additional 1,175,050 shares during the period. State Street Corp grew its holdings in shares of Novocure by 4.4% during the 1st quarter. State Street Corp now owns 1,742,591 shares of the medical equipment provider’s stock worth $117,346,000 after purchasing an additional 73,981 shares during the period. Macquarie Group Ltd. lifted its position in Novocure by 1.2% during the 4th quarter. Macquarie Group Ltd. now owns 984,958 shares of the medical equipment provider’s stock worth $83,002,000 after acquiring an additional 11,279 shares in the last quarter. Wellington Management Group LLP lifted its position in Novocure by 11.5% during the 1st quarter. Wellington Management Group LLP now owns 961,870 shares of the medical equipment provider’s stock worth $64,772,000 after acquiring an additional 99,520 shares in the last quarter. Finally, Norges Bank acquired a new position in Novocure during the 4th quarter worth approximately $65,536,000. Institutional investors and hedge funds 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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Analyst Recommendations for Novocure (NASDAQ:NVCR)

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