Novocure (NVCR) Downgraded by BidaskClub

BidaskClub cut shares of Novocure (NASDAQ:NVCR) from a hold rating to a sell rating in a report published on Friday, BidAskClub reports.

A number of other research analysts have also weighed in on NVCR. Zacks Investment Research lowered shares of Novocure from a hold rating to a sell rating in a research note on Tuesday, March 19th. ValuEngine lowered shares of Novocure from a strong-buy rating to a buy rating in a research note on Thursday, April 4th. SunTrust Banks assumed coverage on shares of Novocure in a research note on Tuesday, March 19th. They issued a hold rating and a $50.00 price objective for the company. Finally, Mizuho reiterated a buy rating and issued a $63.00 price objective on shares of Novocure in a research note on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $49.75.

Shares of NVCR stock opened at $42.22 on Friday. The company has a quick ratio of 4.63, a current ratio of 4.98 and a debt-to-equity ratio of 1.33. Novocure has a 12-month low of $23.61 and a 12-month high of $56.67. The company has a market cap of $4.04 billion, a PE ratio of -61.19 and a beta of 3.20.

Novocure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, February 28th. The medical equipment provider reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.01). Novocure had a negative return on equity of 57.09% and a negative net margin of 25.62%. Equities analysts forecast that Novocure will post -0.34 earnings per share for the current fiscal year.

In other Novocure news, Director Gabriel Leung sold 5,000 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $45.95, for a total value of $229,750.00. Following the completion of the transaction, the director now directly owns 65,000 shares of the company’s stock, valued at approximately $2,986,750. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Wilhelmus Cm Groenhuysen sold 35,000 shares of the firm’s stock in a transaction on Wednesday, January 23rd. The shares were sold at an average price of $47.35, for a total transaction of $1,657,250.00. Following the completion of the transaction, the chief financial officer now directly owns 72,149 shares of the company’s stock, valued at $3,416,255.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 545,823 shares of company stock valued at $27,417,169. Insiders own 15.30% of the company’s stock.

Large investors have recently made changes to their positions in the business. PRW Wealth Management LLC bought a new position in Novocure in the 4th quarter valued at $36,000. NumerixS Investment Technologies Inc bought a new stake in shares of Novocure during the 4th quarter worth $59,000. QS Investors LLC bought a new stake in shares of Novocure during the 4th quarter worth $70,000. Nisa Investment Advisors LLC lifted its holdings in shares of Novocure by 29.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,200 shares of the medical equipment provider’s stock worth $74,000 after acquiring an additional 500 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Novocure during the 4th quarter worth $142,000. 61.06% of the stock is owned by hedge funds and other institutional investors.

About Novocure

Novocure Ltd. operates as an oncology company. It enages in developing its propriety technoclogy, Tumor Treating Fields, which uses electric fields tuned to specific frequencies to disrupt cancer cell division, inhibiting tumor growth, and causing affected cancer cells to die. The company was founded by Yoram Palti in 2000 and is headquartered in St.

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Analyst Recommendations for Novocure (NASDAQ:NVCR)

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