BidaskClub Lowers Novocure (NVCR) to Sell

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

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

NVCR opened at $43.14 on Friday. The stock has a market capitalization of $4.09 billion, a PE ratio of -62.52 and a beta of 3.20. The company has a current ratio of 4.98, a quick ratio of 4.63 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.

Novocure (NASDAQ:NVCR) last released its quarterly earnings data on Thursday, February 28th. The medical equipment provider reported ($0.17) 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%. On average, analysts predict that Novocure will post -0.34 earnings per share for the current year.

In related news, Director Gabriel Leung sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $45.95, for a total value of $229,750.00. Following the sale, the director now directly owns 65,000 shares of the company’s stock, valued at $2,986,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Asaf Danziger sold 88,695 shares of the firm’s stock in a transaction dated Wednesday, January 23rd. The stock was sold at an average price of $47.48, for a total value of $4,211,238.60. Following the completion of the sale, the chief executive officer now directly owns 259,859 shares in the company, valued at $12,338,105.32. The disclosure for this sale can be found here. Insiders sold 545,823 shares of company stock worth $27,417,169 over the last three months. 15.30% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of NVCR. Bank of New York Mellon Corp grew its stake in shares of Novocure by 5.8% in the third quarter. Bank of New York Mellon Corp now owns 387,258 shares of the medical equipment provider’s stock worth $20,292,000 after purchasing an additional 21,335 shares during the last quarter. BlackRock Inc. grew its stake in shares of Novocure by 2.8% in the third quarter. BlackRock Inc. now owns 4,749,934 shares of the medical equipment provider’s stock worth $248,897,000 after purchasing an additional 129,388 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of Novocure in the third quarter worth about $1,323,000. The Manufacturers Life Insurance Company grew its stake in shares of Novocure by 107.0% in the third quarter. The Manufacturers Life Insurance Company now owns 110,286 shares of the medical equipment provider’s stock worth $5,779,000 after purchasing an additional 56,995 shares during the last quarter. Finally, Man Group plc grew its stake in shares of Novocure by 15.3% in the third quarter. Man Group plc now owns 170,756 shares of the medical equipment provider’s stock worth $8,948,000 after purchasing an additional 22,631 shares during the last quarter. 61.06% of the stock is currently owned by 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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