NovoCure Limited (NASDAQ:NVCR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have been given an average recommendation of “Moderate Buy” by the six analysts that are covering the firm, Marketbeat 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 brokers that have issued a report on the stock in the last year is $26.17.

Several analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of NovoCure in a research note on Thursday, October 31st. Wells Fargo & Company reduced their target price on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Wedbush reiterated an “outperform” rating and set a $24.00 price target on shares of NovoCure in a research note on Thursday, July 25th. Finally, Evercore ISI lowered their price objective on NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a report on Tuesday, October 1st.

Hedge Funds Weigh In On NovoCure

Several institutional investors and hedge funds have recently modified their holdings of NVCR. Nordwand Advisors LLC lifted its stake in shares of NovoCure by 100.0% in the 3rd quarter. Nordwand Advisors LLC now owns 3,029,824 shares of the medical equipment provider’s stock valued at $47,356,000 after purchasing an additional 1,514,824 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of NovoCure by 171.9% in the 2nd quarter. Renaissance Technologies LLC now owns 760,175 shares of the medical equipment provider’s stock valued at $13,022,000 after acquiring an additional 480,600 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position 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 purchasing an additional 358,062 shares during the period. Panagora Asset Management Inc. boosted its position in NovoCure by 309.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 409,794 shares of the medical equipment provider’s stock worth $7,020,000 after acquiring an additional 309,805 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in NovoCure by 234.2% during the second quarter. AQR Capital Management LLC now owns 431,445 shares of the medical equipment provider’s stock worth $7,391,000 after buying an additional 302,351 shares during the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.

NovoCure Stock Performance

Shares of NASDAQ:NVCR opened at $16.11 on Friday. NovoCure has a 52 week low of $11.29 and a 52 week high of $24.74. The firm has a 50 day moving average of $16.57 and a 200 day moving average of $18.21. The company has a quick ratio of 1.44, a current ratio of 1.49 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -11.51 and a beta of 0.71.

NovoCure (NASDAQ:NVCR) last announced its earnings results on Wednesday, October 30th. The medical equipment provider reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.06. The firm had revenue of $155.10 million for the quarter, compared to analyst estimates of $143.95 million. NovoCure had a negative return on equity of 41.48% and a negative net margin of 25.93%. During the same quarter last year, the firm posted ($0.46) EPS. The business’s revenue was up 21.8% on a year-over-year basis. On average, sell-side analysts predict that NovoCure will post -1.31 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.