Shares of NovoCure Limited (NASDAQ:NVCR – Get Free Report) have been assigned a consensus rating of “Hold” from the seven analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $21.20.
A number of research firms have weighed in on NVCR. Zacks Research raised shares of NovoCure from a “strong sell” rating to a “hold” rating in a research report on Friday, July 24th. Wedbush lifted their target price on NovoCure from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Wall Street Zen lowered NovoCure from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NovoCure in a research note on Thursday, August 27th. Finally, HC Wainwright set a $32.00 price target on NovoCure in a report on Friday, July 24th.
Get Our Latest Report on NovoCure
NovoCure Stock Down 0.8%
Shares of NASDAQ:NVCR opened at $15.59 on Friday. The business’s 50-day simple moving average is $16.27 and its 200 day simple moving average is $15.86. NovoCure has a one year low of $9.82 and a one year high of $21.45. The company has a current ratio of 2.89, a quick ratio of 2.70 and a debt-to-equity ratio of 0.58.
NovoCure (NASDAQ:NVCR – Get Free Report) last posted its earnings results on Thursday, July 23rd. The medical equipment provider reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.20. The business had revenue of $183.58 million for the quarter, compared to analysts’ expectations of $172.44 million. NovoCure had a negative net margin of 21.25% and a negative return on equity of 44.00%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.36) earnings per share. As a group, equities research analysts forecast that NovoCure will post -1.21 earnings per share for the current year.
Hedge Funds Weigh In On NovoCure
Institutional investors have recently made changes to their positions in the business. Sei Investments Co. increased its position in shares of NovoCure by 367.6% in the 1st quarter. Sei Investments Co. now owns 114,281 shares of the medical equipment provider’s stock worth $1,246,000 after purchasing an additional 89,839 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of NovoCure in the 1st quarter valued at about $1,028,000. Quantinno Capital Management LP lifted its position in shares of NovoCure by 23.7% during the first quarter. Quantinno Capital Management LP now owns 2,487,376 shares of the medical equipment provider’s stock worth $27,112,000 after purchasing an additional 477,128 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of NovoCure by 27.6% during the first quarter. Dimensional Fund Advisors LP now owns 960,056 shares of the medical equipment provider’s stock worth $10,462,000 after purchasing an additional 207,913 shares during the last quarter. Finally, Allianz Asset Management GmbH bought a new position in shares of NovoCure during the second quarter worth about $2,248,000. 84.61% of the stock is owned by institutional investors and hedge funds.
About NovoCure
NovoCure Ltd. (NASDAQ: NVCR) is an oncology company that develops and commercializes therapies based on Tumor Treating Fields (TTFields), low-intensity electric fields designed to disrupt the division of cancer cells. Its treatments are delivered through portable, wearable devices used alongside other cancer therapies.
The company’s principal products include Optune Gio for certain adults with glioblastoma and Optune Lua for adults with unresectable, locally advanced or metastatic pleural mesothelioma and certain forms of metastatic non-small cell lung cancer.
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