NovoCure Limited (NASDAQ:NVCR) Receives Average Recommendation of “Moderate Buy” from Analysts

NovoCure Limited (NASDAQ:NVCR) has been given an average recommendation of “Moderate Buy” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $32.83.

NVCR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of NovoCure from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Piper Sandler decreased their price target on shares of NovoCure from $42.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen lowered NovoCure from a “hold” rating to a “sell” rating in a report on Friday, April 25th. Finally, Wedbush reduced their price objective on NovoCure from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th.

NovoCure Price Performance

Shares of NVCR stock opened at $17.00 on Wednesday. The stock has a 50 day moving average price of $17.36 and a 200 day moving average price of $21.94. NovoCure has a 52-week low of $14.17 and a 52-week high of $34.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. The firm has a market capitalization of $1.90 billion, a P/E ratio of -12.14 and a beta of 0.74.

NovoCure (NASDAQ:NVCR) last released its earnings results on Thursday, April 24th. The medical equipment provider reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.16. The business had revenue of $154.99 million during the quarter, compared to the consensus estimate of $147.57 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the company earned ($0.36) earnings per share. As a group, sell-side analysts predict that NovoCure will post -1.3 earnings per share for the current year.

Hedge Funds Weigh In On NovoCure

Several institutional investors have recently bought and sold shares of NVCR. Summit Investment Advisors Inc. boosted its position in NovoCure by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,141 shares of the medical equipment provider’s stock valued at $332,000 after acquiring an additional 708 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of NovoCure by 70.7% in the 4th quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 781 shares in the last quarter. GeoWealth Management LLC acquired a new stake in NovoCure in the fourth quarter valued at approximately $27,000. Lindbrook Capital LLC boosted its position in shares of NovoCure by 189.2% in the 4th quarter. Lindbrook Capital LLC now owns 1,854 shares of the medical equipment provider’s stock worth $55,000 after purchasing an additional 1,213 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in NovoCure by 16.7% in the first quarter. AdvisorNet Financial Inc now owns 10,466 shares of the medical equipment provider’s stock worth $187,000 after acquiring an additional 1,500 shares in the last quarter. 84.61% of the stock is owned by hedge funds and other institutional investors.

About NovoCure

NovoCure Limited, an oncology company, engages in the development, manufacture, and commercialization of tumor treating fields (TTFields) devices for the treatment of solid tumor cancers in the United States, Germany, Japan, Greater China, and internationally. The company’s TTFields devices include Optune Gio and Optune Lua.