NovoCure Limited (NASDAQ:NVCR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

NovoCure Limited (NASDAQ:NVCR) has received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $26.17.

A number of research firms recently weighed in on NVCR. HC Wainwright raised NovoCure from a “neutral” rating to a “buy” rating and raised their price target for the company from $24.00 to $30.00 in a report on Wednesday, October 16th. Wedbush reiterated an “outperform” rating and set a $24.00 price target on shares of NovoCure in a research report on Thursday, July 25th. Wells Fargo & Company lowered their price objective on shares of NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday, July 26th. Finally, Evercore ISI reduced their target price on shares of NovoCure from $21.00 to $18.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 1st.

NovoCure Price Performance

Shares of NVCR stock opened at $16.27 on Tuesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 6.46 and a quick ratio of 6.22. The stock’s fifty day simple moving average is $17.02 and its 200 day simple moving average is $17.78. NovoCure has a one year low of $10.87 and a one year high of $24.74. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of -8.99 and a beta of 0.70.

NovoCure (NASDAQ:NVCR) last announced its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.09. The firm had revenue of $150.40 million during the quarter, compared to the consensus estimate of $135.83 million. NovoCure had a negative net margin of 30.67% and a negative return on equity of 45.68%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the firm posted ($0.54) EPS. On average, analysts expect that NovoCure will post -1.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in NovoCure by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 9,759,098 shares of the medical equipment provider’s stock valued at $145,703,000 after buying an additional 122,105 shares during the period. GAMMA Investing LLC boosted its stake in NovoCure by 278.0% during the 1st quarter. GAMMA Investing LLC now owns 2,880 shares of the medical equipment provider’s stock worth $45,000 after acquiring an additional 2,118 shares during the last quarter. Counterpoint Mutual Funds LLC boosted its stake in NovoCure by 69.2% during the 1st quarter. Counterpoint Mutual Funds LLC now owns 47,646 shares of the medical equipment provider’s stock worth $745,000 after acquiring an additional 19,489 shares during the last quarter. Taylor Frigon Capital Management LLC grew its holdings in NovoCure by 31.0% during the first quarter. Taylor Frigon Capital Management LLC now owns 126,914 shares of the medical equipment provider’s stock valued at $1,984,000 after purchasing an additional 30,057 shares during the period. Finally, SpiderRock Advisors LLC bought a new stake in NovoCure in the first quarter valued at approximately $1,375,000. Institutional investors and hedge funds own 84.61% of the company’s stock.

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.