NovoCure (NASDAQ:NVCR) Receives Neutral Rating from JPMorgan Chase & Co.

NovoCure (NASDAQ:NVCR)‘s stock had its “neutral” rating restated by JPMorgan Chase & Co. in a research note issued to investors on Monday,Benzinga reports. They currently have a $17.00 target price on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 4.29% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Wedbush reaffirmed a “neutral” rating and issued a $18.00 price target on shares of NovoCure in a research report on Thursday, April 16th. Wells Fargo & Company increased their price objective on NovoCure from $13.50 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Evercore restated an “outperform” rating on shares of NovoCure in a report on Friday, May 1st. Weiss Ratings raised NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. Finally, HC Wainwright reiterated a “buy” rating and set a $46.00 price target (down from $48.00) on shares of NovoCure in a report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.60.

NovoCure Stock Performance

NASDAQ NVCR opened at $16.30 on Monday. The business has a 50 day moving average price of $16.78 and a 200-day moving average price of $13.92. NovoCure has a 52 week low of $9.82 and a 52 week high of $18.92. The company has a quick ratio of 2.70, a current ratio of 2.90 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -10.65 and a beta of 0.94.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The business had revenue of $174.06 million for the quarter, compared to the consensus estimate of $167.77 million. During the same quarter last year, the firm posted ($0.31) EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities analysts expect that NovoCure will post -1.51 earnings per share for the current fiscal year.

Insider Transactions at NovoCure

In other NovoCure news, Director Allyson J. Ocean sold 2,945 shares of NovoCure stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total transaction of $46,442.65. Following the transaction, the director owned 11,324 shares of the company’s stock, valued at $178,579.48. This trade represents a 20.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director W Anthony Vernon sold 2,945 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total value of $46,442.65. Following the completion of the transaction, the director directly owned 197,657 shares of the company’s stock, valued at approximately $3,117,050.89. This represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 51,943 shares of company stock worth $893,171. Company insiders own 5.52% of the company’s stock.

Institutional Investors Weigh In On NovoCure

Several large investors have recently made changes to their positions in the business. Empowered Funds LLC purchased a new position in shares of NovoCure in the 4th quarter worth about $33,000. Kestra Advisory Services LLC purchased a new stake in NovoCure during the fourth quarter worth about $49,000. Larson Financial Group LLC raised its position in NovoCure by 662.1% in the third quarter. Larson Financial Group LLC now owns 4,100 shares of the medical equipment provider’s stock worth $53,000 after acquiring an additional 3,562 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in NovoCure by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,442 shares of the medical equipment provider’s stock worth $70,000 after acquiring an additional 1,120 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in NovoCure in the first quarter valued at about $87,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

About NovoCure

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.