The NovoCure Ltd. (NVCR) Given a $14.00 Price Target at JPMorgan Chase & Co.

The NovoCure Ltd. (NVCR) Given a $14.00 Price Target at JPMorgan Chase & Co.

NovoCure Ltd. (NASDAQ:NVCR) has been assigned a $14.00 target price by analysts at JPMorgan Chase & Co. in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 59.09% from the company’s previous close.

NVCR has been the topic of several other reports. JMP Securities reduced their price objective on NovoCure from $43.00 to $34.00 and set a “market outperform” rating on the stock in a research note on Friday, July 29th. Barclays PLC reduced their price objective on NovoCure from $12.00 to $9.00 and set an “underweight” rating on the stock in a research note on Friday, July 29th. Wedbush reduced their price objective on NovoCure from $30.00 to $20.00 and set an “outperform” rating on the stock in a research note on Friday, July 29th. Deutsche Bank AG reduced their price objective on NovoCure from $28.00 to $16.00 and set a “hold” rating on the stock in a research note on Friday, July 29th. Finally, Zacks Investment Research upgraded NovoCure from a “sell” rating to a “hold” rating in a research note on Thursday, September 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. NovoCure has a consensus rating of “Hold” and a consensus price target of $20.17.

NovoCure (NASDAQ:NVCR) traded down 2.76% during trading on Wednesday, hitting $8.80. 485,192 shares of the stock were exchanged. NovoCure has a one year low of $5.95 and a one year high of $28.95. The stock’s 50 day moving average is $7.77 and its 200-day moving average is $9.41. The company has a market cap of $763.66 billion and a price-to-earnings ratio of 7.04.

NovoCure (NASDAQ:NVCR) last released its earnings results on Wednesday, November 2nd. The company reported ($0.39) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.03. NovoCure had a negative return on equity of 69.89% and a negative net margin of 219.29%. On average, equities research analysts expect that NovoCure will post ($1.57) earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of NVCR. TIAA CREF Investment Management LLC raised its position in shares of NovoCure by 0.5% in the third quarter. TIAA CREF Investment Management LLC now owns 153,952 shares of the company’s stock worth $1,315,000 after buying an additional 825 shares during the period. California State Teachers Retirement System raised its position in shares of NovoCure by 0.8% in the third quarter. California State Teachers Retirement System now owns 107,109 shares of the company’s stock worth $915,000 after buying an additional 900 shares during the period. BlackRock Group LTD raised its position in shares of NovoCure by 9.6% in the third quarter. BlackRock Group LTD now owns 12,873 shares of the company’s stock worth $110,000 after buying an additional 1,125 shares during the period. BlackRock Advisors LLC raised its position in shares of NovoCure by 10.6% in the third quarter. BlackRock Advisors LLC now owns 18,335 shares of the company’s stock worth $157,000 after buying an additional 1,751 shares during the period. Finally, Rhumbline Advisers raised its position in shares of NovoCure by 19.0% in the third quarter. Rhumbline Advisers now owns 47,079 shares of the company’s stock worth $402,000 after buying an additional 7,508 shares during the period. Institutional investors own 23.92% of the company’s stock.

NovoCure Company Profile

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