Novocure (NASDAQ:NVCR)‘s stock had its “buy” rating reiterated by research analysts at Mizuho in a research note issued to investors on Thursday. They presently have a $51.00 price objective on the medical equipment provider’s stock. Mizuho’s price target suggests a potential upside of 47.65% from the company’s previous close.
The analysts wrote, “We currently model initial revenue for this indication starting in late 2019.””
NVCR has been the subject of several other reports. BidaskClub cut shares of Novocure from a “buy” rating to a “hold” rating in a research note on Saturday, October 27th. Wells Fargo & Co raised their price target on shares of Novocure from $53.00 to $58.00 and gave the stock a “positive” rating in a research note on Wednesday, September 19th. Deutsche Bank set a $44.00 price target on shares of Novocure and gave the stock a “hold” rating in a research note on Thursday, September 20th. Zacks Investment Research cut shares of Novocure from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Novocure in a research note on Sunday, September 16th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $48.00.
Shares of NVCR stock opened at $34.54 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 5.72 and a current ratio of 6.17. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -49.34 and a beta of 3.73. Novocure has a 52 week low of $18.20 and a 52 week high of $53.70.
Novocure (NASDAQ:NVCR) last issued its quarterly earnings results on Thursday, October 25th. The medical equipment provider reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. The company had revenue of $64.76 million during the quarter, compared to analysts’ expectations of $65.61 million. Novocure had a negative net margin of 25.37% and a negative return on equity of 52.72%. On average, analysts forecast that Novocure will post -0.68 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. Oppenheimer & Co. Inc. bought a new position in shares of Novocure during the 3rd quarter worth approximately $210,000. Evercore Wealth Management LLC bought a new position in shares of Novocure in the third quarter valued at $220,000. Envestnet Asset Management Inc. bought a new position in shares of Novocure in the second quarter valued at $135,000. Strategic Financial Services Inc bought a new position in shares of Novocure in the third quarter valued at $262,000. Finally, Private Advisor Group LLC bought a new position in shares of Novocure in the third quarter valued at $316,000. 58.58% of the stock is owned by institutional investors.
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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