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NovoCure (NASDAQ:NVCR – Get Free Report)‘s stock had its “outperform” rating reissued by Leerink Partnrs in a note issued to investors on Friday, PriceTargets.com reports.

A number of other equities research analysts have also commented on the company. Piper Sandler upgraded NovoCure from a “neutral” rating to an “overweight” rating and set a $45.00 price target on the stock in a research report on Tuesday. SVB Leerink assumed coverage on NovoCure in a research report on Friday. They set an “outperform” rating and a $51.00 price target on the stock. HC Wainwright decreased their price target on NovoCure from $115.00 to $85.00 in a research report on Wednesday, June 7th. Wedbush upgraded NovoCure from an “underperform” rating to a “neutral” rating and decreased their price target for the stock from $53.00 to $46.00 in a research report on Tuesday, June 6th. They noted that the move was a valuation call. Finally, SVB Securities assumed coverage on NovoCure in a research report on Friday. They set an “outperform” rating and a $51.00 price target on the stock. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Get Our Latest Analysis on NovoCure

NovoCure Stock Down 5.7 %

Shares of NASDAQ NVCR opened at $26.92 on Friday. NovoCure has a 52-week low of $26.68 and a 52-week high of $120.03. The company has a debt-to-equity ratio of 1.36, a quick ratio of 6.88 and a current ratio of 7.10. The business has a fifty day moving average of $44.58 and a two-hundred day moving average of $63.33. The stock has a market cap of $2.87 billion, a PE ratio of -16.32 and a beta of 0.60.

NovoCure (NASDAQ:NVCR – Get Free Report) last announced its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.04). The firm had revenue of $126.05 million for the quarter, compared to the consensus estimate of $124.25 million. NovoCure had a negative net margin of 34.35% and a negative return on equity of 40.21%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.23) earnings per share. As a group, equities research analysts expect that NovoCure will post -2.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NVCR. American International Group Inc. lifted its stake in shares of NovoCure by 26.9% in the 2nd quarter. American International Group Inc. now owns 1,950 shares of the medical equipment provider’s stock valued at $81,000 after purchasing an additional 413 shares during the period. Fifth Third Bancorp lifted its stake in shares of NovoCure by 99.6% in the 2nd quarter. Fifth Third Bancorp now owns 2,004 shares of the medical equipment provider’s stock valued at $83,000 after purchasing an additional 1,000 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in shares of NovoCure by 34.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 1,429 shares of the medical equipment provider’s stock valued at $86,000 after purchasing an additional 363 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of NovoCure by 79.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,470 shares of the medical equipment provider’s stock valued at $88,000 after purchasing an additional 650 shares during the period. Finally, Captrust Financial Advisors lifted its stake in shares of NovoCure by 47.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,292 shares of the medical equipment provider’s stock valued at $90,000 after purchasing an additional 413 shares during the period. Institutional investors and hedge funds own 83.08% of the company’s stock.

NovoCure Company Profile

(Get Free Report)

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Europe, the Middle East, Africa, Japan, and Greater China. Its TTFields devices include Optune for the treatment of glioblastoma; and Optune Lua for the treatment of malignant pleural mesothelioma.

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Analyst Recommendations for NovoCure (NASDAQ:NVCR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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