J.P. Morgan Remains a Hold on NovoCure (NVCR)

J.P. Morgan analyst Cory Kasimov maintained a Hold rating on NovoCure (NVCRResearch Report) on January 12. The company’s shares closed last Thursday at $180.71, close to its 52-week high of $181.00.

According to TipRanks.com, Kasimov is a 5-star analyst with an average return of 21.9% and a 57.0% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Alexion Pharmaceuticals, and BioMarin Pharmaceutical.

Currently, the analyst consensus on NovoCure is a Moderate Buy with an average price target of $162.25, a -8.3% downside from current levels. In a report issued on January 11, Oppenheimer also maintained a Hold rating on the stock.

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Based on NovoCure’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $133 million and net profit of $9.28 million. In comparison, last year the company earned revenue of $92.06 million and had a net profit of $1.93 million.

Based on the recent corporate insider activity of 81 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NVCR in relation to earlier this year.

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NovoCure Ltd. develops treatment for tumors. Its platform is called the Tumor Treating Field which used electric fields tuned to specific frequencies to disrupt solid tumor cancer cell division. The company was founded by Yoram Palti in 2000 and is headquartered in St. Helier, Jersey.