Novocure (NVCR) Shares Up 7.3%

Novocure Ltd (NASDAQ:NVCR)’s share price shot up 7.3% during trading on Wednesday . The company traded as high as $32.89 and last traded at $32.82. 624,500 shares changed hands during trading, a decline of 28% from the average session volume of 870,691 shares. The stock had previously closed at $30.60.

Several equities research analysts have issued reports on the stock. Mizuho restated a “buy” rating and set a $51.00 price objective on shares of Novocure in a research report on Thursday, November 15th. ValuEngine downgraded shares of Novocure from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Wells Fargo & Co downgraded shares of Novocure from an “outperform” rating to a “market perform” rating in a research report on Friday, November 2nd. Zacks Investment Research downgraded shares of Novocure from a “buy” rating to a “hold” rating in a research report on Tuesday, October 30th. Finally, BidaskClub downgraded shares of Novocure from a “buy” rating to a “hold” rating in a research report on Saturday, October 27th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $48.00.

The company has a current ratio of 6.17, a quick ratio of 5.72 and a debt-to-equity ratio of 1.30. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of -48.91 and a beta of 3.74.

Novocure (NASDAQ:NVCR) last released its quarterly earnings results on Thursday, October 25th. The medical equipment provider reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. Novocure had a negative net margin of 25.37% and a negative return on equity of 52.72%. The company had revenue of $64.76 million during the quarter, compared to the consensus estimate of $65.61 million. On average, equities research analysts expect that Novocure Ltd will post -0.68 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. UBS Group AG grew its stake in shares of Novocure by 379.2% during the first quarter. UBS Group AG now owns 9,809 shares of the medical equipment provider’s stock worth $214,000 after buying an additional 7,762 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Novocure by 10.1% during the first quarter. Principal Financial Group Inc. now owns 44,849 shares of the medical equipment provider’s stock worth $978,000 after buying an additional 4,106 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Novocure by 32.7% during the second quarter. Bank of Montreal Can now owns 9,379 shares of the medical equipment provider’s stock worth $293,000 after buying an additional 2,310 shares during the last quarter. Amalgamated Bank bought a new stake in shares of Novocure during the second quarter worth $343,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Novocure during the second quarter worth $643,000. Institutional investors and hedge funds own 57.26% of the company’s stock.

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Novocure Company Profile (NASDAQ:NVCR)

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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