NovoCure (NVCR) Receives a Hold from Oppenheimer

Oppenheimer analyst Kevin DeGeeter reiterated a Hold rating on NovoCure (NVCRResearch Report) yesterday. The company’s shares closed last Thursday at $189.72.

According to TipRanks.com, DeGeeter is a 5-star analyst with an average return of 43.0% and a 46.7% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Cyclacel Pharmaceuticals, Sensei Biotherapeutics, and Taysha Gene Therapies.

NovoCure has an analyst consensus of Hold, with a price target consensus of $204.17, a -1.2% downside from current levels. In a report released yesterday, Mizuho Securities also downgraded the stock to Hold with a $229.00 price target.

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Based on NovoCure’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $135 million and GAAP net loss of $4.13 million. In comparison, last year the company earned revenue of $102 million and had a net profit of $3.95 million.

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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.