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

NovoCure Limited (NASDAQ:NVCR) has been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the firm, 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 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $32.67.

NVCR has been the topic of several analyst reports. Wedbush restated a “neutral” rating and issued a $29.00 price objective on shares of NovoCure in a report on Monday, January 13th. Piper Sandler raised their target price on shares of NovoCure from $28.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. HC Wainwright reiterated a “buy” rating and issued a $38.00 price objective on shares of NovoCure in a research note on Tuesday, January 14th. Finally, Evercore ISI upgraded shares of NovoCure from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $18.00 to $30.00 in a research report on Monday, December 2nd.

Institutional Investors Weigh In On NovoCure

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp bought a new stake in shares of NovoCure during the 4th quarter valued at approximately $203,000. GF Fund Management CO. LTD. bought a new stake in NovoCure during the 4th quarter worth approximately $68,000. Soleus Capital Management L.P. acquired a new position in NovoCure in the 4th quarter valued at approximately $81,643,000. Teza Capital Management LLC increased its position in NovoCure by 573.0% in the 4th quarter. Teza Capital Management LLC now owns 100,200 shares of the medical equipment provider’s stock valued at $2,986,000 after acquiring an additional 85,312 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in NovoCure by 264.6% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,901 shares of the medical equipment provider’s stock valued at $206,000 after acquiring an additional 5,008 shares during the period. 84.61% of the stock is owned by institutional investors.

NovoCure Stock Up 2.0 %

NovoCure stock opened at $22.09 on Monday. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -15.78 and a beta of 0.62. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.49 and a quick ratio of 1.44. NovoCure has a fifty-two week low of $11.70 and a fifty-two week high of $34.13. The firm has a fifty day moving average price of $26.65 and a two-hundred day moving average price of $21.39.

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.