Novocure (NASDAQ:NVCR) had its price objective hoisted by Wedbush from $55.00 to $58.00 in a research note released on Friday. Wedbush currently has an outperform rating on the medical equipment provider’s stock.
Other equities analysts have also recently issued reports about the company. BidaskClub raised Novocure from a buy rating to a strong-buy rating in a report on Thursday, August 16th. Mizuho reaffirmed a buy rating and issued a $58.00 price objective on shares of Novocure in a report on Friday, October 19th. ValuEngine raised Novocure from a buy rating to a strong-buy rating in a report on Friday, August 3rd. Evercore ISI began coverage on Novocure in a report on Monday, July 16th. They issued an outperform rating and a $46.00 price objective for the company. Finally, Wells Fargo & Co reaffirmed a buy rating on shares of Novocure in a report on Thursday, September 13th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $52.14.
NASDAQ:NVCR opened at $31.02 on Friday. The company has a market cap of $2.95 billion, a P/E ratio of -44.31 and a beta of 3.29. The company has a quick ratio of 5.72, a current ratio of 6.17 and a debt-to-equity ratio of 1.30. Novocure has a 1-year low of $16.90 and a 1-year high of $53.70.
In other news, CFO Wilhelmus Cm Groenhuysen sold 4,368 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $37.62, for a total transaction of $164,324.16. Following the completion of the transaction, the chief financial officer now owns 108,118 shares of the company’s stock, valued at approximately $4,067,399.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Yoram Palti sold 12,216 shares of the business’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $40.00, for a total value of $488,640.00. The disclosure for this sale can be found here. Insiders sold a total of 135,791 shares of company stock valued at $5,343,530 over the last ninety days. Insiders own 15.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. AMS Capital Ltda acquired a new position in shares of Novocure during the 3rd quarter worth $518,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Novocure during the 3rd quarter worth $428,000. Oppenheimer & Co. Inc. acquired a new position in shares of Novocure during the 3rd quarter worth $210,000. Rice Hall James & Associates LLC raised its holdings in shares of Novocure by 53.2% during the 3rd quarter. Rice Hall James & Associates LLC now owns 14,687 shares of the medical equipment provider’s stock worth $770,000 after buying an additional 5,100 shares in the last quarter. Finally, Strategic Financial Services Inc acquired a new position in shares of Novocure during the 3rd quarter worth $262,000. 55.67% 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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