Novocure (NASDAQ:NVCR) had its price objective lifted by Wells Fargo & Co from $53.00 to $58.00 in a research note issued to investors on Wednesday, September 19th, The Fly reports. The firm currently has a “positive” rating on the medical equipment provider’s stock. Wells Fargo & Co’s price objective suggests a potential upside of 28.40% from the company’s previous close.

A number of other brokerages have also recently weighed in on NVCR. BidaskClub upgraded shares of Novocure from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 16th. Wedbush restated an “outperform” rating and issued a $40.00 price objective (down previously from $50.00) on shares of Novocure in a report on Friday, September 7th. Mizuho reiterated a “buy” rating and issued a $58.00 price target on shares of Novocure in a research note on Thursday, September 6th. ValuEngine upgraded shares of Novocure from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 3rd. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Novocure in a research note on Sunday, September 16th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Novocure currently has an average rating of “Buy” and an average price target of $49.57.

Novocure stock traded up $1.30 during midday trading on Wednesday, hitting $45.17. 732,193 shares of the stock were exchanged, compared to its average volume of 859,638. Novocure has a fifty-two week low of $16.10 and a fifty-two week high of $53.70. The stock has a market cap of $4.87 billion, a P/E ratio of -64.53 and a beta of 3.29. The company has a current ratio of 6.41, a quick ratio of 5.97 and a debt-to-equity ratio of 1.33.

Novocure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, July 26th. The medical equipment provider reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). Novocure had a negative net margin of 26.99% and a negative return on equity of 52.34%. The company had revenue of $61.50 million for the quarter, compared to analyst estimates of $59.53 million. The company’s revenue was up 60.2% compared to the same quarter last year. As a group, analysts forecast that Novocure will post -0.69 EPS for the current year.

In related news, insider Yoram Palti sold 25,666 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $40.03, for a total value of $1,027,409.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Wilhelmus Cm Groenhuysen sold 1,241 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $35.01, for a total transaction of $43,447.41. Following the completion of the sale, the chief financial officer now owns 115,644 shares of the company’s stock, valued at approximately $4,048,696.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 198,518 shares of company stock valued at $7,543,993. 15.30% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Stratos Wealth Partners LTD. acquired a new position in Novocure in the 1st quarter valued at $109,000. Envestnet Asset Management Inc. acquired a new position in Novocure in the 2nd quarter valued at $135,000. CWM LLC acquired a new position in Novocure in the 2nd quarter valued at $163,000. NumerixS Investment Technologies Inc increased its stake in Novocure by 270.6% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 6,300 shares of the medical equipment provider’s stock valued at $196,000 after buying an additional 4,600 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in Novocure in the 2nd quarter valued at $202,000. 56.08% of the stock is currently owned by institutional investors.

About Novocure

NovoCure Limited is a commercial-stage oncology company. The Company is engaged in developing a cancer treatment centered on a therapy called TTFields, the use of electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. Its TTFields delivery system is used for the treatment of glioblastoma (GBM) and to advance programs testing of TTFields in multiple solid tumor indications through its clinical pipeline.

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Analyst Recommendations for Novocure (NASDAQ:NVCR)

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