NovoCure Limited (NASDAQ:NVCR) Receives Consensus Rating of “Moderate Buy” from Brokerages

NovoCure Limited (NASDAQ:NVCR) has earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $31.25.

Several analysts recently weighed in on the company. HC Wainwright restated a “neutral” rating and issued a $22.00 price objective on shares of NovoCure in a report on Tuesday, June 4th. Wedbush reiterated an “outperform” rating and issued a $24.00 target price (up previously from $21.00) on shares of NovoCure in a research note on Monday, June 3rd. Wells Fargo & Company decreased their target price on shares of NovoCure from $49.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Piper Sandler reiterated an “overweight” rating and set a $28.00 price objective (up previously from $25.00) on shares of NovoCure in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. boosted their price target on NovoCure from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th.

Institutional Trading of NovoCure

Hedge funds have recently made changes to their positions in the company. Tidal Investments LLC acquired a new position in shares of NovoCure in the 1st quarter valued at $695,000. Jacobs Levy Equity Management Inc. raised its stake in shares of NovoCure by 305.6% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 475,226 shares of the medical equipment provider’s stock valued at $7,428,000 after acquiring an additional 358,062 shares during the period. Aristides Capital LLC acquired a new position in shares of NovoCure in the 1st quarter worth approximately $178,000. Price T Rowe Associates Inc. MD boosted its position in shares of NovoCure by 5.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,378,940 shares of the medical equipment provider’s stock worth $37,184,000 after purchasing an additional 125,715 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in NovoCure in the 1st quarter valued at approximately $113,000. Hedge funds and other institutional investors own 84.61% of the company’s stock.

NovoCure Stock Performance

NVCR opened at $19.44 on Wednesday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 5.99 and a current ratio of 6.26. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -10.74 and a beta of 0.78. The company has a fifty day moving average of $18.04 and a 200 day moving average of $15.69. NovoCure has a fifty-two week low of $10.87 and a fifty-two week high of $45.21.

NovoCure (NASDAQ:NVCR) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. The business had revenue of $138.50 million for the quarter, compared to the consensus estimate of $131.44 million. NovoCure had a negative net margin of 36.67% and a negative return on equity of 50.35%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.50) EPS. As a group, sell-side analysts forecast that NovoCure will post -1.59 earnings per share for the current fiscal year.

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.