NovoCure Limited (NASDAQ:NVCR) Receives $27.50 Consensus PT from Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have received an average rating of “Hold” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $27.50.

Several research analysts have commented on the stock. Wedbush restated a “neutral” rating and issued a $18.00 price objective on shares of NovoCure in a report on Tuesday, September 30th. Wells Fargo & Company reissued an “equal weight” rating and issued a $14.50 price target (down from $40.00) on shares of NovoCure in a research note on Friday, July 25th. Piper Sandler restated an “overweight” rating and issued a $34.00 target price on shares of NovoCure in a research note on Friday, June 27th. Weiss Ratings restated a “sell (e+)” rating on shares of NovoCure in a research report on Wednesday. Finally, LADENBURG THALM/SH SH initiated coverage on NovoCure in a report on Tuesday, July 8th. They issued a “buy” rating and a $30.00 price objective for the company.

NovoCure Stock Down 5.9%

Shares of NASDAQ:NVCR opened at $13.49 on Tuesday. The stock’s 50-day moving average is $12.51 and its 200 day moving average is $15.40. The company has a market cap of $1.51 billion, a PE ratio of -8.65 and a beta of 0.75. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.45 and a quick ratio of 1.39. NovoCure has a 1 year low of $10.87 and a 1 year high of $34.13.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Thursday, July 24th. The medical equipment provider reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.03. The firm had revenue of $158.80 million for the quarter, compared to analyst estimates of $153.87 million. NovoCure had a negative return on equity of 47.74% and a negative net margin of 27.13%.The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company earned ($0.31) EPS. Sell-side analysts anticipate that NovoCure will post -1.3 EPS for the current year.

Insider Transactions at NovoCure

In other NovoCure news, CFO Christoph Brackmann bought 20,000 shares of the stock in a transaction dated Tuesday, July 29th. The stock was purchased at an average cost of $11.59 per share, for a total transaction of $231,800.00. Following the completion of the acquisition, the chief financial officer owned 141,150 shares of the company’s stock, valued at approximately $1,635,928.50. This trade represents a 16.51% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ashley Cordova purchased 81,550 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was bought at an average price of $12.22 per share, for a total transaction of $996,541.00. Following the purchase, the chief executive officer directly owned 437,569 shares in the company, valued at $5,347,093.18. The trade was a 22.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.52% of the company’s stock.

Institutional Investors Weigh In On NovoCure

Several hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of NovoCure by 17.1% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,307 shares of the medical equipment provider’s stock valued at $77,000 after acquiring an additional 629 shares in the last quarter. Headlands Technologies LLC bought a new stake in NovoCure during the 2nd quarter valued at about $88,000. Acadian Asset Management LLC bought a new stake in NovoCure during the 1st quarter valued at about $87,000. Russell Investments Group Ltd. increased its position in shares of NovoCure by 463.8% during the first quarter. Russell Investments Group Ltd. now owns 6,529 shares of the medical equipment provider’s stock valued at $116,000 after acquiring an additional 5,371 shares in the last quarter. Finally, Wealthquest Corp purchased a new position in NovoCure in the 1st quarter worth approximately $129,000. 84.61% of the stock is owned by institutional investors.

NovoCure Company Profile

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.