NovoCure Limited (NASDAQ:NVCR) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of NovoCure Limited (NASDAQ:NVCR) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $32.67.

A number of equities research analysts have recently issued reports on the stock. Wedbush restated a “neutral” rating and issued a $29.00 target price (up previously from $24.00) on shares of NovoCure in a research note on Monday, December 2nd. HC Wainwright reissued a “buy” rating and set a $38.00 target price (up from $30.00) on shares of NovoCure in a report on Monday, December 2nd. Piper Sandler raised their price target on shares of NovoCure from $28.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $18.00 to $30.00 in a research note on Monday, December 2nd.

Hedge Funds Weigh In On NovoCure

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of NovoCure during the second quarter valued at $34,000. Brooklyn Investment Group bought a new stake in NovoCure in the third quarter worth about $45,000. Versant Capital Management Inc raised its holdings in shares of NovoCure by 35.8% in the 4th quarter. Versant Capital Management Inc now owns 3,341 shares of the medical equipment provider’s stock worth $100,000 after purchasing an additional 880 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in NovoCure by 58.5% during the third quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock valued at $57,000 after purchasing an additional 1,354 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in NovoCure by 21.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,914 shares of the medical equipment provider’s stock worth $61,000 after buying an additional 701 shares during the last quarter. 84.61% of the stock is owned by institutional investors.

NovoCure Price Performance

NVCR stock opened at $30.19 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.44 and a current ratio of 1.49. NovoCure has a 1 year low of $11.70 and a 1 year high of $34.13. The stock has a 50-day simple moving average of $23.87 and a 200-day simple moving average of $19.85. The firm has a market cap of $3.27 billion, a P/E ratio of -21.56 and a beta of 0.75.

NovoCure (NASDAQ:NVCR) last issued its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.06. NovoCure had a negative net margin of 25.93% and a negative return on equity of 41.48%. The firm had revenue of $155.10 million for the quarter, compared to analyst estimates of $143.95 million. During the same quarter in the previous year, the business posted ($0.46) EPS. The firm’s revenue was up 21.8% compared to the same quarter last year. On average, equities analysts predict that NovoCure will post -1.32 earnings per share for the current fiscal year.

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.