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

Shares of NovoCure Limited (NASDAQ:NVCR) have been given an average recommendation of “Moderate Buy” by the six research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $32.67.

Several analysts have recently commented on NVCR shares. Piper Sandler increased their price objective on NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, December 13th. HC Wainwright reiterated a “buy” rating and issued a $38.00 price target on shares of NovoCure in a research note on Tuesday, January 14th. Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $18.00 to $30.00 in a report on Monday, December 2nd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of NovoCure in a research report on Monday, January 13th.

Institutional Trading of NovoCure

Large investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in NovoCure during the second quarter valued at approximately $34,000. Brooklyn Investment Group purchased a new position in NovoCure in the 3rd quarter valued at $45,000. Blue Trust Inc. lifted its stake in shares of NovoCure by 70.7% in the fourth quarter. Blue Trust Inc. now owns 1,886 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 781 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of NovoCure by 58.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,669 shares of the medical equipment provider’s stock worth $57,000 after purchasing an additional 1,354 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in NovoCure by 21.8% during 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 hedge funds and other institutional investors.

NovoCure Stock Performance

Shares of NovoCure stock opened at $25.52 on Thursday. The company has a market capitalization of $2.76 billion, a PE ratio of -18.23 and a beta of 0.64. The company has a 50-day simple moving average of $27.33 and a two-hundred day simple moving average of $21.00. NovoCure has a one year low of $11.70 and a one year high of $34.13. 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 (NASDAQ:NVCR) last posted its quarterly earnings data on Wednesday, October 30th. The medical equipment provider reported ($0.28) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $143.95 million. During the same quarter in the previous year, the business posted ($0.46) EPS. NovoCure’s revenue was up 21.8% on a year-over-year basis. Research analysts expect that NovoCure will post -1.3 EPS 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.