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

NovoCure Limited (NASDAQ:NVCR) has received an average rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $25.50.

A number of research analysts have recently issued reports on NVCR shares. Wedbush restated an “outperform” rating and issued a $24.00 price target on shares of NovoCure in a research report on Thursday, July 25th. HC Wainwright upped their price target on shares of NovoCure from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Wells Fargo & Company decreased their price target on NovoCure from $42.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, July 26th. Finally, Evercore ISI boosted their price objective on NovoCure from $14.50 to $20.00 and gave the company an “in-line” rating in a research note on Tuesday, July 2nd.

NovoCure Price Performance

Shares of NASDAQ:NVCR opened at $15.65 on Friday. The firm has a market cap of $1.69 billion, a PE ratio of -8.65 and a beta of 0.71. NovoCure has a 52 week low of $10.87 and a 52 week high of $24.74. The firm’s fifty day moving average is $18.47 and its 200-day moving average is $17.59. The company has a debt-to-equity ratio of 1.81, a quick ratio of 6.22 and a current ratio of 6.46.

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

Hedge Funds Weigh In On NovoCure

A number of large investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in NovoCure during the second quarter worth $34,000. Scientech Research LLC acquired a new stake in shares of NovoCure in the 2nd quarter worth about $645,000. The Manufacturers Life Insurance Company raised its holdings in shares of NovoCure by 25.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 187,772 shares of the medical equipment provider’s stock worth $3,217,000 after acquiring an additional 37,951 shares during the last quarter. AQR Capital Management LLC lifted its position in NovoCure by 234.2% in the 2nd quarter. AQR Capital Management LLC now owns 431,445 shares of the medical equipment provider’s stock valued at $7,391,000 after acquiring an additional 302,351 shares in the last quarter. Finally, Alpha DNA Investment Management LLC acquired a new position in NovoCure during the 2nd quarter valued at about $349,000. 84.61% of the stock is currently owned by institutional investors.

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.