J.P. Morgan Maintains a Hold Rating on NovoCure (NVCR)

By Jason Carr

J.P. Morgan analyst Cory Kasimov maintained a Hold rating on NovoCure (NVCRResearch Report) yesterday. The company’s shares closed last Monday at $81.20.

According to TipRanks.com, Kasimov is a 4-star analyst with an average return of 6.1% and a 47.0% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as Ultragenyx Pharmaceutical, Global Blood Therapeutics, and Alexion Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for NovoCure with a $89.50 average price target, representing a 6.2% upside. In a report issued on January 2, Evercore ISI also downgraded the stock to Hold with a $90.00 price target.

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The company has a one-year high of $98.70 and a one-year low of $41.51. Currently, NovoCure has an average volume of 767.5K.

Based on the recent corporate insider activity of 129 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NVCR in relation to earlier this year.

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Novocure Ltd. is global oncology company, which engages in the development and commercialization of its innovative therapy. It focuses on the commercial adoption of Optune, and its Tumor Treating Fields delivery system, for the treatment of glioblastoma (GBM), and to advance programs testing the efficacy and safety of Optune in multiple solid tumor indications through clinical pipeline. The company was founded by Yoram Palti in 2000 and is headquartered in St. Helier, Jersey.